Oilbi - Unlocking Tanzania's Vast Energy Resources

About Us

Oilbi at a Glance

Oilbi is a proactive, partner-driven independent energy company focused on developing Tanzania's natural gas resources in a responsible and sustainable way. By doing so, we will continue to drive regional economic growth and support the global energy transition.

Company History: Key Milestones

Early 2000s

Started African business in Namibia and Republic of Congo under the name 'Apex Group'

2011

Apex Group set up office in Dar es Salaam to initiate offshore natural gas development in Tanzania

2012

Consortium of BG Group and Ophir energy discovered large gas field named Papa in offshore Block 3

2015

Apex Group changed its name to 'Oilbi'

2019

Oilbi secured 100% operational control of Block 3 and drafted model PSA for Block 2R and Block 3

2020

Commissioned GE and Baker Hughes for preliminary feasibility study and basic design for LNG plant

2025

PSA between Oilbi and Tanzanian government is in final stage, ready for signing

Vision and Values

Our Vision

Our vision is to become one of the leading LNG producer in East Africa, establishing Tanzania as a vital hub for the region's energy transition and economic development.

Profitability

We are committed to generating a high rate of return for our investors through a stable and highly profitable project

Sustainability

We prioritize environmental stewardship by integrating advanced, eco-friendly technologies like Carbon Capture & Storage(CCS)

Social Responsibility

We believe in giving back to the community through job creation, skills development, and infrastructure improvement

Executive Leadership

Jae Lee

Founder & Chairman

Born in Seoul Korea in 1952. After graduating from high school in Korea moved to the United States. His decades of business experience in Africa and long-term dedication to Tanzania's energy sector provide Oilbi with invaluable local insight and strong government relationships.

Jae Gook Yang

Representative and CEO/Board member of Oilbi Ltd.

Born in 1961, in Korea. Former diplomat. Joined Foreign Ministry in 1991. His international experience enables Oilbi to build effective global partnerships and navigate complex project development.

Oilbi's Gas Blocks

Overview

Oilbi holds 100% exploration and operation rights for offshore Blocks 2R and 3R in southeastern Tanzania. These exclusive rights will be further secured by the imminent signing of the Production Sharing Agreement(PSA).

Block 3R (Papa Field)

Proven Reserves (P1) 3.5 Tcf

LNG Output Potential 70M tons

Production Period 26-27 years

Probable Reserves (P2) 18.2 Tcf

Block 2R

Probable Reserves (P2) 17.8 Tcf

Geological Excellence

Offshore gas fields of Tanzania have shown a relatively high success rate in exploration and drilling due to their promising geological characteristics.

Production Sharing Agreement (PSA)

Overview

PSA is a core legal contract between Oilbi Ltd, the Ministry of Energy, and the Tanzania Petroleum Development Corporation(TPDC). This agreement secures Oilbi's exclusive rights for exploration and development of natural gas in offshore Blocks 2R and 3R.

Signing Status

Final Stage

The PSA is currently in its final stage, pending official signature by all parties. Once signed, it will provide full legal certainty and protection for Oilbi's activities.

Key Points

Exclusive Rights

Oilbi takes exclusive exploration and development rights in Blocks 2R and 3R for both oil and natural gas.

Royalty

Fixed at a globally competitive 7.5%

Cost Recovery

High recovery Capex of up to 75% of total production, reducing investor risk and accelerating quick return on investment

Arbitration

International dispute resolution under ICC rules is guaranteed, with freedom for foreign exchange and remittance.

Oilbi LNG Project

Mvua Kubwa Project Overview

The Oilbi LNG Project, named Mvua Kubwa Project (meaning "heavy rain" in Swahili) is a fully integrated liquefied natural gas development led by Oilbi Ltd. The project plans to develop offshore natural gas resources from Block 3R and construct an onshore LNG facility with an annual production capacity of 2.5 million tons.

An architectural rendering of an LNG plant designed by Baker Hughes in 2020.

Objectives

To produce and export LNG to rapidly growing Asian and global markets with a focus on South Korea
To contribute to Tanzania's industrial growth, job creation, and technology transfer
To uphold international ESG standards throughout the project lifecycle

Project Site

The plant will be located in Mtwara, a southeastern coastal region of Tanzania. Oilbi has already secured the site, and the location has strong potential due to integration with local facility and regional development initiatives.

Project Cost

Total Estimated Cost $3.6 billion

Construction Costs $3.3 billion

Non-construction Costs $300 million

Project Advantages

Large-Scale Reserves

Oilbi holds exclusive rights to offshore blocks with 3.5 Tcf of proven and up to 36 Tcf of probable natural gas reserves

Strategic Location

The plant site in Mtwara offers direct access to international shipping routes and proximity to growing Asian LNG markets

Strong Partnerships

Targets collaboration with top Korean and global companies will bring world-class technologies and robust financing capabilities

Stable Environment

Tanzania has a relatively stable political climate and actively pursues economic development plans

Partnership and Investor Relations

We are seeking strategic partners to join us in unlocking Tanzania's vast natural gas resources. Our vision is to connect local potential with global opportunity, and we believe this transformative journey requires collaboration with partners who share our ambition and expertise.

Who We Are Looking For

Technology & Expertise

Partners with proven capabilities in natural gas exploration, production, and LNG plant construction.

Market Access

Partners who can provide access to key international markets and distribution networks for our future LNG products.

Investment

Financial partners who will enable us to secure the capital required for this large-scale project.

Key Financial Highlights

$3.6B

Total Project Cost

$1.75B

Annual Revenue (full capacity)

$49B

Cumulative Revenue (28 yrs)

20.88%

IRR (Internal Rate of Return)

Year 5

BEP (Break Even Point)

$3.5B

NPV (Net Present Value)

Disclaimer: This information is provided for reference only and does not constitute an offer or solicitation for investment. For updated figures and official reports, please check this website regularly or contact our IR department.

Company's Future Growth Strategy

Resources Expansion

Oilbi will pursue further exploration and drilling in its concession blocks to increase proven reserves and extend the project's operational life.

Portfolio Diversification

The sales balances long-term off-take agreements, dynamic futures trading, and spot market access to optimize revenue and minimize price volatility.

ESG Leadership

Our company will continue investing in eco-friendly technologies, including carbon capture and storage(CCS), and workforce development.

Regional Synergy

Our company will actively seek collaboration with neighboring energy projects and infrastructure initiatives, creating a competitive energy hub.

Sustainable Partnership

By deepening relationships with Korean and global energy leaders, our company aims to secure financial investment and market expansion opportunities.

Explore Our Services

About Us

Oilbi is a proactive, partner-driven independent energy company focused on developing Tanzania's natural gas resources in a responsible and sustainable way.

Mission: Unlocking Tanzania's vast energy potential

Focus: Natural gas exploration & LNG development

Gas Blocks

Oilbi holds 100% exploration and operation rights for offshore Blocks 2R and 3R in southeastern Tanzania with exclusive rights secured by PSA.

Location: Southeastern Tanzania offshore

Reserves: 3.5 Tcf proven, up to 36 Tcf probable

LNG Project

Mvua Kubwa Project - fully integrated LNG development with 2.5 million tons annual production capacity located in Mtwara, Tanzania.

Project Name: Mvua Kubwa (Heavy Rain)

Investment: Multi-billion dollar development

Partnership

Strategic partnerships with global energy leaders, investor relations, and strong financial performance driving Tanzania's energy sector growth.

Growth Strategy

Comprehensive expansion plans including resources expansion, ESG leadership, portfolio diversification, and sustainable development initiatives.

Contact

Connect with our experienced team across multiple locations. We're here to answer your questions and discuss partnership opportunities.

Downloads

Access comprehensive project documents, detailed plans, and audio presentations to learn more about our LNG development initiatives.

Select a Menu

Unlocking Tanzania's Vast Energy Resources

About Us

Oilbi at a Glance

Company History: Key Milestones

Vision and Values

Our Vision

Profitability

Sustainability

Social Responsibility

Executive Leadership

Jae Lee

Jae Gook Yang

Oilbi's Gas Blocks

Overview

Block 3R (Papa Field)

Block 2R

Geological Excellence

Production Sharing Agreement (PSA)

Overview

Signing Status

Final Stage

Key Points

Exclusive Rights

Royalty

Cost Recovery

Arbitration

Oilbi LNG Project

Mvua Kubwa Project Overview

Objectives

Project Site

Project Cost

Project Advantages

Large-Scale Reserves

Strategic Location

Strong Partnerships

Stable Environment

Partnership and Investor Relations

Who We Are Looking For

Technology & Expertise

Market Access

Investment

Key Financial Highlights

Company's Future Growth Strategy

Resources Expansion

Portfolio Diversification

ESG Leadership

Regional Synergy

Sustainable Partnership

Contact Information

Get in Touch

Official Documents

Project Basic Plan

Project Audio Books

Explore Our Services

About Us

Gas Blocks

PSA

LNG Project

Partnership

Growth Strategy

Contact

Downloads