First Exploration & Production (First E&P), one of the leading indigenous oil players in Nigeria, has reached a memorandum of understanding (MoU) with Tanzania Petroleum Development Corporation (TPDC) to assess and develop potential hydrocarbons in Tanzania’s Mnazi Bay North block.
The development was made known in a press statement issued by First E&P and seen by Energy in Africa.
“We are proud to announce 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,” First E&P stated.
The company says the MoU, which was signed over the weekend at TPDC’s Head Office in Dodoma, Tanzania, was witnessed by senior government officials, including the Commissioner for Petroleum and Gas and the Director General of the Petroleum Upstream Regulatory Authority (PURA) of Tanzania.
The Mnazi Bay North block is a strategic priority for Tanzania.
The government plans to resume drilling activity in the block in November 2025 after a decade-long pause.
Tanzania’s commissioner for Petroleum and Gas in the Ministry of Energy, Godluck Shirima, added that the MoU is a direct outcome of the 2015 Petroleum Act, which empowers TPDC to engage in joint development of petroleum assets.
Shirima noted that the current effort represents the first of its kind under the framework of upstream partnership.
The initial assessment phase of the exploration project will be fully funded by FIRST E&P, which strongly believes in the block’s gas potential to support Tanzania’s energy development.
What you should know
Many Nigerian oil companies are increasingly entering into new markets in other parts of Africa.
FIRST E&P’s move into Tanzania follows similar steps taken by Nigerian companies like the duo of Oando and Walcot in Angola and Aiteo in Mozambique.
“This partnership is not just about hydrocarbons. It’s about forging long-term relationships rooted in trust, development, and shared prosperity,” First E&P’s CEO Adeyemi-Bero said.
In Nigeria, the company operates several licences (like OML 83, OML 85, OML 34, OML 71, and OML 72) in partnership with NNPC.
The company is also a shareholder in Renaissance Group which recently acquired Shell’s onshore assets for $2.3 billion.
First E&P achieved first oil in 2020 and has rapidly grown production to around 57,000 barrels per day currently.
Tanzania has enormous reserves of natural gas, and the government is stepping up efforts to leverage it for clean energy production. This agreement is one of those.
“This strategic collaboration reflects our shared ambition to advance regional energy development and enhance energy security in Sub-Saharan Africa,” First E&P said.
