Tanzania Petroleum

Solo Oil boss says Ntorya in Tanzania is ‘demonstrably commercial’

June 18, 2017/in Career Advice/by Hussein Boffu

picture of gas pipes
INVESTMENT OVERVIEW: SOLO The Big Picture
More 3D siesmic may be on cards at Ruvuma

Solo Oil PLC (LON:SOLO) will focus on monetising its Ntorya gas prospect in Tanzania in the coming year, according to executive chairman Neil Ritson.

Speaking to Proactive Investors, he said this may also mean the Ntorya-3 appraisal well is delayed in favour of acquiring another batch of 3D seismic over the licence.

Ntorya-3 may not be in the best place

We would like to drill it, he said, but Ntorya-3 may not be the best place.

So we’d rather go down the 3D seismic acquisition route and know exactly where the next well should be drilled.

Watch: Solo Oil ‘at a very important point in its development’ – exec chairman Neil Ritson

Ritson also played down concerns over the flow rates seen from the recent Ntroya-2 appraisal well.

The reason these were below the flows seen previously were well-bore related he said, an issue that should be resolved as it moves to production.

“Everything looks good”.

The reservoir was 50m or twice as thick as the first well and In place, there is half a TCF (trillion cubic feet) of proven gas volume and it is clearly commercial.

The need now is to turn it into a 25 year development licence and agree the work programme and schedule.

Ritson added it is also working on a gas demand survey that will be published shortly to understand why demand for gas from the producing Kiliwani field, also in Tanzania, is lagging. He said it is getting paid and in US dollars.

But the focus is Ruvuma, where he said a read through from a broker note on partner Aminex plc (LON:AEX) pointed to a value of US$100mln.

He added Ruvuma was also a classic case study of how Solo operates.

“Get in early and put in money highly leveraged to value.”

“Now Ntorya is demonstrably going to be commercial, we are looking to take money off table and re-invest elsewhere – and in the short term this means the Helium One project also in Tanzania.”

Solo has taken a 10% stake in Heiium One but wants to double its to 20%, something Ritson admits he needs to explain to shareholders.

“It’s new for us so we need to get shareholders to understand why we are doing it, why we are doing it now and our first mover advantage here.”

Helium is used for MRI imaging, industrial processes, and so on. World demand is 6Bcf per year and Solo’s asset contains 100Bcf, os it is a world class aseet he says.

Patience required at Horse Hill

Finally, Solo is also a 10% stakeholder in the Horse Hill exploration well in Sussex.

An application to carry out appraisal testing and further drilling is on the council’s agenda for July and he says the HH consortium is happy to be patient as they are confident the long term flow test results will confirm “what we saw on short term tests.”

What is it worth?

Shore Capital tweaked its price target higher following as assessment of the appraisal drill result at Ntorya.

It follows a similarly bullish assessment of Solo’s partner Aminex (LON:AEX) last week from the broker.

The Ntorya-2 result has increased discovery size and de-risked additional prospectivity, said Shore.

Meanwhile, the 10% stake (possibly rising to 20%) stake in Tanzania-based Helium One interest represents a highly accretive and complementary acquisition.

Issues over the flow rate are not materially detrimental according to the broker and the current value offers an attractive entry point in anticipation of further drilling, development licence award and finalisation of early production plans at the successfully de-risked Ntorya discovery.

Including Helium One’s Rukwa project; the risked NAV (net asset value) estimate is upgrade

The Only Key Result Area of Your Business That Will Result In More Clients And Sales In East Africa’s Oil and Gas This Year

June 8, 2017/28 Comments/in Career Advice/by Hussein Boffu

As a business owner, you have a lot of task to accomplish. These might product productions, managing your staff, marketing and selling of your products and services.

If you think you should invest equal energy in all these areas of your business, You will work too hard and earn too little.

But the good news is that, There only one key area that accounts for more of your sales and earnings.

Once you discover this area, you will grow your profit with less effort.

To survive in this period of cheap oil prices, you should spend 80% of your energy, time and money in this only area of your business,

So what is that? Well, The answer is simple. It is MARKETING.

If you want to double income in the oil and gas you should spend enough time in marketing.

And the reasons you should invest 80% of your energy in the Marketing is that. Without marketing

You have no clients. No cash flow. And no business.

The sad reality is that the most marketing strategies are expensive or inefficiency. To cut cost you should invest the cost effective marketing that will get you the tangible result in your business.

And that’s approach will be digital marketing Traditional marketing are expensive. But digital marketing is more cost effective. That means you should use web presences to generates leads and sales in oil and gas sector.
See the link here to learn how digital marketing is work in oil and gas sector. [How-to-drive-sales-in-east-africas-oil-and-gas-slow-market]

And if you have any questions. Reach out to me at Hussein.Boffu@tanzaniapetroleum.com. I read all the email

Top 18 List Of Oil Marketing Companies In Tanzania

June 8, 2017/2 Comments/in Career Advice/by Hussein Boffu

If you are wondering what’s oil marketing companies? These are companies that market sell and distribute product come from crude oil such as diesel , kerosene gasoline (petrol)

Lubricants, cooking gas or liquefied petroleum gas (LPG) or simply gas as everyone call it .

These companies are in part of downstream segment of the oil and gas.

There are money oil marketing companies in Tanzania, But the outlined are due to the growth of their market share.

PUMA Energy and
Oryx Energies
GBP
CAMEL OIL
Lake oil
ToTAL
MOIL
GAPCO
OIL COM
STAR OIL,
MOGAS,
ACER
MT. MERU
HASS,
PETROL FUELL
ENGEN,
PETRO
AFRICA DELTA

How To Drive Sales In East Africa’s Oil and Gas Slow Market

June 5, 2017/24 Comments/in Career Advice/by Hussein Boffu

Maximizing sales in this time of low oil price can be sweat, a lot of hardworking and sleepless night.

To cope with a drop in oil price, oil and gas companies are cutting cost, squeeze budget and laid off workers.
If your business provides solution or product to the oil and gas sector there’s way you can generate leads and pull yourself out of this downturn’

This method sounds simple. But it’s extremely important for you to generate sales and stay ahead of your competition in East Africa oil and gas market.

The solution is your website. Yes, you read it right. But how does your website can increase your profit margin in this relationship industry?

Many suppliers, contractors and service providers believe that sales in oil and gas sectors come only through handshaking and face to face meeting.

So they use the website only to showcase products and services they offer. But not much else.

But the good news is that your oil and gas website should be part of your sales team. It should get you clients, sales and another great result for your business
To be completely transparent with you, If your website does not result in revenue, then it is senseless to your business. Simple as that

In reality, internet has changed everything. And oil and gas sector has been adopting these changes.

In this information age. I often call smartphone age, Your prospects are looking for a solution online.
It might be a products or services that they need so urgently. It might be a proposal request, buy they don’t who to send.

So if you put helpful content to your website. You build trust and authority in your area of your offering.
So once you approach a prospect , they will easily agree with your offering and view you as advisor and expert in the product or service your renders.

The best part is, everyone can write an article and provide valuable information that really solves his client’s problem.
The question of the hour?

Does your website drive sales? Does your online presence bring you money on the table?
If you answer no to everything above, then rethink.

3 Major Challenges Affect Your Ability To Sell Into Oil and Gas And How To Overcome Them

May 31, 2017/22 Comments/in Investment/by Hussein Boffu

If you are struggling to attract clients into oil and gas, you’re not alone. because that’s happening, Not just to you. But to tons of entrepreneurs in Tanzania and beyond.

But I have shocking truth for you today. The truth that prevents you from selling in the oil and gas.

The outlined are the truth:

1. Availability of information
The Internet has changed everything. Your prospect has a smart phone, laptop or pad, whatever you call it. But it gives them access to the internet.
So information is at their fingertips. With a click, They can learn everything about your products, services, price, and specification.Even information about you and your business.

The sad reality is that, once they found things they don’t like. They ignore you offering.

2. Small wallet
Oil and gas companies and business have a small wallet.They cut cost and they want to spend more with less. The is because the economy is unstable right now. And crude oil price drop in the global market has added fuel to fire. Most importantly, companies are burning with a loaded of tax today.

3. The world is a single village
These days, your prospects can buy to any marketplace. Skype and video telephone has turned the world too small

In Tanzania, example. Many oil and gas companies buy products and services overseas.

So trying to compete in that game is the wastage of time.So how do you stand out?

Perhaps your marketing strategies relied on making more calls, send out a lot of emails. And have face to face presentation.

These approaches are effective.But in today’s oil and gas market, using these approaches you prospect might take longer to respond.

How To Overcome These Challenges

Great times of oil boom has gone. So things have changed now in the industry.
But the only thing that remains the same in this sector is, we do business with people we like and trust

However, there’s the smart way. a method that can yield a greater return in the long term.That approach named DIGITAL MARKETING

Digital marketing is when you use the internet to promote your products and services to your high target market.

I often call digital marketing as help marketing. As you don’t do this to push clients to purchase your products and service. But you give them actionable advice about your offering. You show them how your products and service can benefit them.

This build trust and your clients will recognize you as an expert in your area. So if you are offering valves, writes an article about types of valves every engineer should know. If you are selling PPE’s demonstrate how they can benefit your clients. The same way if you offering engineering services.

The reasons this method is effective is, your clients, oil and gas professionals, highly decision makers are online

searching for the solution and valuable information about their business and personal matters. So why don’t you go where they are?

In reality, digital marketing is a new concept in oil and gas, but it increasingly popularity in the industry these days.

So, digital marketing cover everything from email marketing, video marketing, social media marketing.Your online presence

should be part of your sales team that increase your profit margin. But guess what. Having only company website, It won’t pay off.

Do you have an email list? Is your website rank higher when someone searches it on google? Do you provide valuable information about your offering that can help your clients?

if your online presence doesn’t result in you in revenue. Then it’s worthless to your business.

The common sense answer is to focus on getting clients and sales from your website visitors.

Who Else Want To Double Income and Make Large Profit Margin In Oil and Gas In Tanzania

May 25, 2017/in Career Advice/by Hussein Boffu

Are you want to double your earning in the next 12 months? Are you rack brain for perfect business opportunities in Tanzania?

If you answer yes to everything above, then why not make money oil and gas sector?

The oil and gas demand in Tanzania is growing at a quick rate. But a little professional knowledge about oil and gas sector. You can become on your way to a profitable oil and gas business.

No matter who you are or your status. The perfect opportunity is just waiting for you.

So you want to double your earning from oil and gas? Then sell something. The only way to make money in the oil and gas is to sell something. Got it?

And the only two things you can sell is a product and a service. Nothing more to those facts.

So what if you don’t have products to sell? Simple. Just sell someone product and earn a commission. Simple as that

Now I want to toss you is the idea that you can increase earning in the Tanzania Petroleum industry.

Become facilitator
Open your eyes and research items that are selling fast in Tanzania oil and gas sector.In this case, take Personal Protective Equipment (PPE) as an example.

Are these safety shoes, gloves are selling fast in Tanzania? If you discovered yes. Go online or even google whatever you want to do. And make a list of both local and international companies offering PPE.

Once you are done, Kickstart visit company offices and ask them to be representative of their products. Now after that go out, and use all marketing skills you can master to introduce your items to your highly target clients.

Make sure you agree with them to give you some percent for each purchase is made. Many international companies are keen to expand the market in Tanzania. With a good approach, you are smile to your bank

Still Confusing, Let me give one more example. Do you know Liquefied petroleum gas (LPG) also is called cooking gas (gas to cook your food) or simply GAS as everyone call it. Is one of the fast selling items in Tanzania.

So, if you don’t have start -up money to buy cylinders. Go and find a local dealer, negotiate a deal. You find a customer who needs to refill their cylinders. You deliver your customer with gas and earn a commission.

This might be stressful as you start. But once your business starts growing. You will have tons of customers. You can do the same way and sell those petroleum products such as diesel, kerosene petrol, and even lubricant.

If you are starting out with minimal capital, This is the best way to earn excellent money without investing a cent.

2:Start with frustration
I’ve told you before, but I’m still going to tell you. You want people to give you their hard earned money. Although that is important, about their money. What do problem people have in oil and gas sector?

If you say to me the problem is employment. So what problem do people have finding a job in the oil and gas sector? Is it
that there’s no job? Or because their CV isn’t professional? Or that they lack work experience? What do problem oil and gas company face

List everything out on a piece of paper. Make a list of all problems. And brainstorm on the solutions toward that problem.
That’s all I have to say for now.

The question of the hour is:

What do you have to sell to them? What products or services do you sell? Leave your comment below.

Or just email me at Hussein.boffu@tanzaniapetroleum.com. I read all emails.

How To Start Your Own Oil and Gas Exploration Company In Tanzania.Practical Guide

May 23, 2017/in Career Advice/by Hussein Boffu

Perhaps you are drilling engineer and your friend is a geologist. Or someone you have been working in the oil and gas for quite sometimes now. You done a lot great job for your employees.

Now you need flexibility, You don’t want to work for someone else. You want to make a big impact to the community while enjoying the flexibility and financial freedom.

In another word . You want to become your own boss. Perhaps you have been thinking of it since you started a career in oil and gas sector. But you have no idea how to get started.

Below you will find step by steps guide that will help you start your own exploration and production company any time you ready.

Table of content

What oil and gas exploration and production companies do
Two reasons why you should set up your exploration and production companies in Tanzania
Three steps to start oil and gas exploration company

What’s Exploration and Production Companies do

Before we go any further let me tell you in a child language what the oil and gas exploration companies do.

Oil and gas exploration and production companies search for oil and gas resources and bring them to the surface so as can be processed and delivered to the consumers or end users.

The potential In Starting Your Oil and Gas Business In Tanzania

The reasons you need to start your own oil and gas exploration business in Tanzania is that Tanzanian is an emerging market. So many resources are untapped

1’Natural gas resources in Tanzania is abundant

Although Tanzanian has 57.27 trillion cubics of natural gas. But the US geological survey points out Tanzania has potential natural gas reserves up to 441 trillion cubic feet, solely in the coastal region.

So is the best opportunities to pursue new oil and gas reserves and explore for these oil and gas resources. As more natural gas discoveries might be forthcoming. If you set up your own oil and gas company in Tanzania

2:Strong administration
The new administration of president John Magufuli that Intend to tackle corruption in all sectors (including oil and gas sector) will give room for new investor to grow and gain access to permit and license that were made difficult to get.

How To Your oil and Gas Exploration and Production Company In Tanzania

Step 01:Funding your start-up oil and gas exploration company.
The simple truth is oil and gas projects need money. A lot of it. But limited start-up money is not an excuse to achieve your goal of owning and operating exploration companies.

Because many and gas entrepreneurs , started their oil and gas business with limited capital.

You need to learn how oil and gas entrepreneurs raise money for their business and follow the path.

So if you are wondering how to find money for your start up. Here are an options available for the oil and gas entrepreneur to go into oil and gas business.

1:Equity
This is the means of raising money by providing a share of your business to the investors. The investor who raises some money for your business will become a shareholder of the company, so they will have to say in your business and take an ownership interest in your business. So if business make profit, they will receive part of it
This is the best way to finance your oil and gas startup because you don’t need to pay it back, also you tap into investors network which adds credibility to your business
2:Debt (borrowing)
Another option is to raise money for your oil and gas business is debt (borrowing) this is money you borrow to finance your business. Bank borrowing can be a little bit frustrating particularly when you are small business starting out. Although if you have a strong business plan you keep a good relationship with your local bank. Your bank will lend you money.

Step 02: Hire The Talent

So you have money right now. Then you should hire the best people in your organization.

Despite the fact, there are a lot of talents available to hire out there but attracting the right person for the right job is harder than you think and should be done with carful planning.

Look for candidates that are problem solvers, flexible and passionate about the industry. You can also look for the retired professional who still has passion for bringing solution in the organization
.
Step 03:Get License and Permit
In Tanzania, the Tanzania development Corporation (TPDC) is the government organization that is grant licenses and enters will enter production sharing agreement (PSA)with you.

Good Lucky To You

Now you are done. Work early, go and strike Gas. Solve energy challenge in Tanzania and turn these resources into high-profit margins.

How To Start Cooking Gas Distribution Business In Tanzania…..Detailed Reuirements

May 22, 2017/in Investment/by Hussein Boffu

Cooking gas Image

Cooking gas becomes so popular fuel for cooking. Have you ever wondered why is everyone using gas for cooking now?. The answers are pretty simple.

The first thing first, cooking gas is environment-friendly, cook food faster. Best of all cooking gas is very affordable

Cooking gas is also called Liquefied petroleum gas (LPG) or simply “GAS” as everyone calls it. Cooking gas is made up during refining of crude oil or processing of natural gas.

I don’t want to go deeper into this subject of the formation of Cooking gas. Let be the story of another day. The topic at hand is how you start, run and make good money selling cooking gas in Tanzania

The market for this product is growing at faster rates. To save forests, government encourage the use of this product. So even people in rural areas are switching from the use of firewood and charcoal.

This business has attracted a lot of entrepreneurs in Tanzania. And cooking gas retail shops are in every street corner.

I often wonder, how do they make a profit with this intense competition. But the best part is that, as the number of the household switch to this fuel, demand increase and more customers arise.

Start-Up Money

You don’t need all the money in the world to start up cooking gas business in Tanzania. With 1,670,000TZSH you are staring mid-sized cooking gas business in Tanzania

So before we go any further let look at budget for starting this business

Gas cylinders ( 15kg gas and 6 kg. about 20 pieces each size of cylinders)	TZSH 1,140,000
Business license	TZSH 80,000
Fire certificate	TZSH 100,000
Hose pipe	TZSH 60,000
Dry powder fire extinguisher 6kg	TZSH 90,000
Miscellaneous	TZH 200,000
Total TZSH 1,670,000

Read: How-to-start-video-production-business in Tanzania

How is profitable is Cooking Gas Business In Tanzania

The average profit you can make for selling 15kg cylinder is TZSH 7000. You buy at a unit cost of TZSH 47,000 and resell at TZSH 40,000. So if you sell 10 cylinders in a week will make 7000×10= Tzsh70,000. In a month it is possible to make TZSH 280,000

The profit you can make for supplying 6kg cylinder is TZSH 4000. So once you selling 10 cylinders in the week will make you 4,000×10=TZSH 40,000. In a month you will have a profit margin TZSH 160,000

That is just an average profit you can make. But I guarantee you 95% profit if you do a good marketing and you sell your item in a good location.

Tips To Succeed In This Businesss

1:Do home deliveries

Cooking gas is the constant pushing business, so staying back and hoping customers will knock on your door is not a plan. To stand out you should do home deliveries with no extra charges.

Considering you’re starting with limited fund, so delivering cooking gas to the customer’s doorstep with no extra costs. might be stressful. But using a cheaper alternative to supply gas can be easily solved the challenge. So considering using bike instead of car

2:Pick good marketing strategies

Cooking gas is the personal contact business. So the word of mouth will really work. Approach a friend and family members and tell about your business. The location is everything. Locate your shop in the area accessible to your target Customers. If you are reliable and you deliver on your promise. Customers will become a friend of your business.

Challenges In s Cooking Business

1:Fire explosion

Cooking gas is flammable in nature. That’s can catch fire easily. To stand out, observe gas leakage and fix a problem quickly. Most importantly get fire extinguisher in your store

2:Price volatility

Cooking gas business is the boom and bust business due to the prices fluctuation in the global cooking gas market. So when the price of cooking gas in the global market drop. It affects the local price as well. This ruins your business as the many customers saves money on buying gas. This will drop your sales and profit as well.

So, go out there and make it happen. You will thank me later.

I would love to hear your thought. Leave your comment below.

How To Start Oil and Gas Business In Tanzania—–3 steps

May 20, 2017/in Career Advice/by Hussein Boffu

People reach out to me and ask, what it takes to set up oil and gas business in Tanzania.

So if you’re thinking and you’re passionate about starting any business in oil and gas sector. Follow these three steps

1:Find a niche
Now, you want to start an oil and gas business, pick a niche. Oil and gas sector is large and it divided into three areas.

Upstream portion of the oil and gas sector involves finding areas where oil and gas resources might be and bring them to the surface. It often called Exploration and production

Midstream part i involve transportation and storage of oil and gas from where is found the place where can be processed and refined

Downstream part this involve converting natural gas and crude oil into finished products such as diesel kerosene, gasoline, lubricant, plastics so as can be used by end user

So what’s your niche, if you pick upstream part of the sector your business might be supplying goods and tools to oil and gas companies, providing maintenance, mechanical and construction services, design pipes, welding and pipe fittings to oil and gas platforms

If you choose midstream as your niche, your business would be, selling gas storage tank, transportation of petroleum product through tankers, selling corrosion inhibitors etc

If you’re telling me your niche will be downstream, your business will be selling products made from oil and natural gas such as diesel, kerosene, cooking gas (LPG), gasoline

From business perception, you can’t serve everyone. You can’t say everyone is your customer. You should narrow your market and pick a specific niche.The more you narrow your niche, the better you increase your winning chance.

Read:11-solutions-to-turn-problems-facing-tanzanias-oil-and-gas-into-business-opportunities/

2:Plan
All business need plan, but oil and gas need it more because of the extremely ups and down of the sector. Your plan should define clearly what products and services you are going to offer, you should have a short description that describes what business you are going into. You plan should include your financial projection, market strategies etc. Developing waiting list is the stressful work for many entrepreneurs but if you discipline in doing it you will find it easier than you think. Your plan does not guarantee you success but not having one is the ticket to failure

3:Start-Up Money
Once you have already picked the market you want to focus and you have a plan, next step is to finance your start up. So how do you get money to finance your business? There are the various ways to finance your oil and gas start-up. This includes equity financing and debt financing. However, if you have a detailed plan, you are creative and determined fund will never be a challenge to you.

The simple truth is there are two ways to learn any business.
1. Trial and error—— you start your own business and you learn as you go from both mistakes and success. The disadvantages of this option it would take you longer to succeed and hit your target
2. Find a mentor——– someone who has already been in a business you are going into and gives you guidelines of such business. This is the effective method because you’ll reach your mountaintop faster than you have ever imagined possible. Because they will give you what works and what do not work out. And you get a mentor by books of the subject related to business or field you intend to start oil and gas business is like that

We have a write a book for you and will be released soon. In this book, you will discover

1. How to start oil and gas supply or services business in Tanzania (Including planning your business, market analysis etc)
2. How to be supplier or contractor in oil and gas in Tanzania(including license and permit you need to get started with your oil and gas supply or services business)
3. How To raise money for your oil and gas supply business
4. How to recognize and pursue potential business opportunities in oil and gas sector in Tanzania
5. How to arrange presentation of your goods and services to the oil and gas companies
6. How to register with various oil and gas companies as a VENDOR (supplier or contractor)
7. How to get deals (winning contract and supply) Including preparing and submit acceptable bid
8. How to raise money for your supply or contract
9. List of services and goods and tools you can start to supply in Tanzania oil and gas
10. Main area of business opportunities in the oil and gas sector in Tanzania
11. Tips to survive in Tanzania oil and gas sector
12. More interesting business opportunities in oil and gas sector

This is “must have” eBook, so if you will need this eBook, please bring your order right now so as we keep you on our “ waiting list” (People who waiting this book). The price of this eBook is 30,000tzsh

This price is 95 discount. And this discount will expire after 2 weeks from today. So keep your order today, another way you will pay more later.

You will never find anywhere in the world the oil and gas book is sold at a fair price like this. I could charge it higher, But I want this book to help more people. I want many people to benefit from the oil and gas sector in Tanzania.

To get into our waiting List
Send SMS at this +255689955711 or shoot me an email at Hussein.boffu@tanzaniapetroleum.com. with your full names and email and we will keep you into our waiting list

Solo Oil announces helium acquisition in Tanzania and Ruvuma gas progress

May 19, 2017/in Career Advice/by Hussein Boffu

Solo Oil has acquired a 10 per cent interest in Helium One Limited and announced plans to progress further with the Ruvuma gas field, increasing its presence in Tanzania

The Ruvuma region is ripe for gas development. (Image Credit: Egbert in donker Afrika/Flickr)

Helium One is Tanzania’s pure play helium exporter, and the helium is expected to become a bigger player in the African oil and gas industry in coming years. As well as the newly acquired 10 per cent interest, Solo has an additional call option to acquire a further 10 per cent interest within 90 days.

This second investment is expected to close on or before next month with a long stop date of 31 July 2017 in case of any delays in regulatory approval in Tanzania. It has been reduced in price from £4m (split equally between cash and shares) to £3m in cash. Once this has been issued, Solo will then have the right to subscribe for a quarter of a share in Helium One for every one share subscribed for under the call option.

This can be exercised until 31 December 2017 with a price of US$0.40 per share.

It was announced earlier this month that Helium One completed the acquisition of an airborne gravity and magnetics survey and has approved more soil and groundwater sampling surveys, following the successful results of the first phase of sampling work. It is expected that drilling will commence in the Rukwa project area in 2018, where it is estimated that approximately 99bcf of helium is present.

Current global demand for helium is at around 6bcf so this makes Rukwa an important strategic project for the future of the sector. New helium supplies coming onstream are limited and the US Federal helium reserve will be shut down in 2021, so this positions Tanzania as a potential major player in the world helium market.

As well as positive news for the Tanzanian helium sector, Solo is pursuing a 25-year development license for gas in the onshore Ruvuma petroleum sharing contract (PSC) from the country’s authorities.

This follows the drilling and successful testing of the Ntorya-2 appraisal well as part of the Ruvuma PSC. According to the appraisal results, there is most likely discovered gross gas of 466bcf in place. As well as seeking out the license, Solo is looking for a partner for its future involvement in the development. Solo owns a 25 per cent non-operating interest in the Ruvuma PSC and the Ntorya-1 and Ntorya-2 wels, which are operated by Aminex.

credit:http://www.oilreviewafrica.com