Dodsal signs PSA for oil exploration in Tanzania

Dubai: Dodsal Hydrocarbons and Power (Tanzania), a wholly-owned subsidiary of Dubai-headquartered Dodsal Resources, yesterday signed a Production Sharing Agreement (PSA) with the Tanzanian Ministry of Energy and Minerals and Tanzania Petro-leum Development Corporation for exploration for oil and gas for the RUVU block in Tanzania, a company statement said.

Indian-owned Dodsal Resources is a new thrust for Dodsal Group in the energy sector for exploration of not only oil and gas but also mining of metals and minerals.

Dodsal Resources has also secured a mining concession in Tanzania in a 100 square kilometre area. A preliminary field survey of this area shows traces of gold and other metals. However, a detailed exploratory study is under progress to determine the size of the reserves.

Rajen Kilachand, chairman and president and the owner of Dodsal Group, said Dodsal Resources is a key strategic business for his group and he expects it to equal or grow bigger than the engineering and construction business.