In a significant step toward advancing regional energy development in Sub-Saharan Africa, FIRST Exploration & Petroleum Development Company (FIRST E&P) has announced the signing of a Memorandum of Understanding (MoU) with the Tanzania Petroleum Development Corporation (TPDC) for the technical assessment and potential development of the Mnazi Bay North Block in southern Tanzania.
The MoU signing ceremony took place at the TPDC Head Office in Dodoma, with senior executives from both organizations, representatives of the Government of Tanzania, and members of the media in attendance.
This strategic partnership represents a major milestone in unlocking Tanzania's abundant energy potential and advancing regional energy security. By fully funding the assessment phase, FIRST E&P is demonstrating both its confidence in the block’s significant gas prospects and its long-term commitment to supporting Tanzania’s energy development. The ultimate objective is to advance to a license agreement and develop this opportunity into a world-class producing asset.
In his remarks, Ademola Adeyemi-Bero, Managing Director/CEO of FIRST E&P, highlighted the company's proven track record and strategic vision, saying 'our success in Nigeria, built on deep technical expertise, a high-performance team, and an entrepreneurial mindset, has positioned us to deploy our capabilities beyond our home market. We believe Tanzania holds world-class hydrocarbon resources and its strategic location positions it as a natural energy hub for the region. With the right investments and partnerships, Tanzania can play a pivotal role in improving energy access, enabling cross-border distribution, and driving regional energy security across Sub-Saharan Africa.'
Mr. Adeyemi-Bero further emphasized the importance of the partnership, stating, 'We are confident that this MoU marks not just the beginning of a project, but the start of a long-term, mutually beneficial relationship between FIRST E&P and the government and people of Tanzania. We extend our sincere appreciation to TPDC for their collaborative spirit, professionalism, and openness throughout this process.'
Also speaking at the event, Godluck Shirima, Commissioner for Petroleum and Gas, Ministry of Energy, Tanzania, noted, 'The Petroleum Act of 2015 empowers TPDC to develop blocks independently or in partnership with strategic collaborators. TPDC has since identified key blocks, including Mnazi Bay, and we are working in close coordination with Petroleum Upstream Regulatory Authority (PURA), the Ministry of Energy, and TPDC to progress development. This MoU marks a first-of-its-kind upstream initiative, and we look forward to commencing exploration and production activities. With FIRST E&P’s support, we believe Tanzania’s upstream sector will be significantly strengthened.'
Mussa Makame, the Managing Director Tanzania Petroleum Development Corporation (TPDC) said, 'The reality we must acknowledge as Africans is that many of our people still rely on biomass for energy; an option that poses serious risks to both health and the environment. Transitioning to gas is a critical step toward ensuring energy security for our communities. Developing our reserves is, therefore, a national priority. It is even more encouraging when African companies collaborate to unlock these resources, as it allows us to harness and benefit from them right here on our own soil.'
FIRST E&P currently produces approximately 57,000 barrels of oil per day in joint venture with NNPC Limited, operating PML 53, PML 54, PPL 275, PPL 276, and PPL 277 in Nigeria. The company also holds interests in multiple other licenses. This new venture in Tanzania underscores FIRST E&P’s commitment to expanding its footprint and contributing to Africa’s energy future.
Today’s MoU marks the first step toward potentially converting the Mnazi Bay North Block into a world-class producing asset, one that could significantly enhance regional energy security, support cross-border energy distribution, and catalyze socio-economic development in Tanzania and beyond.
Source: FIRST E&P
