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Dec 6, 2013 | Tanzania

Statoil announces another major gas discovery off Tanzania

By AFP
The headquarters of Norwegian oil company in Stavanger, Norway are pictured on January 18, 2013.  By Kent Skibstad (NTB Scanpix/AFP/File)
The headquarters of Norwegian oil company in Stavanger, Norway are pictured on January 18, 2013. By Kent Skibstad (NTB Scanpix/AFP/File)

Oslo (AFP) - The Norwegian oil company Statoil announced on Friday the discovery of a major gas deposit with its US partner ExxonMobil off the coast of Tanzania.

With an estimated 360 million to 540 million barrels of oil equivalent (boe), the find -- the fifth on the same bloc -- brings the size of the discovery to between 3.08 and 3.6 billion boe, the company said in a statement.

Tanzania is one of the biggest growth regions for Statoil which faces falling reserves in the North Sea.

The company has a 65-percent stake in the bloc, along with ExxonMobil which has 35 percent.

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