Statoil Says has made entry Into Tanzania Mafia basin with a 12% Stake acquisition of Block Six

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Norwegian energy producer, Statoil, has acquired 12 percent working interest in Block 6 licence offshore Tanzania from operator Petrobras Tanzania Ltd.

According to the information published in the Norway Post, the company has acquired block 6, which covers 5,549 square kilometers in the Mafia basin offshore. It was established that the transaction is subject to the approval by the government of Tanzania.

However, when reached for comment on the matter, the Permanent Secretary in the Ministry of Energy and Minerals, Prof Justin Ntalikwa his office was not aware of the new business development between Statoil and Petrobras Tanzania Ltd.

He said there was nothing on his table related to acquire 12 percent working interest by Statoil from Petrobras Tanzania Ltd. “So far there is nothing new on my table regarding the said business, but we will deal with it when it reaches to our office,” said Prof Ntalikwa.

Block 6 covers 5,549 square kilometres in the Mafia basin offshore Tanzania, with a water depth of 1,800 metres. Block 6 is located approx.170 kilometres north of the Statoil-operated Block 2, where the company in 2012 and 2013 made three high-impact gas discoveries.

After the farm-in completion, operator Petrobras Tanzania Ltd will hold a 38 percent working interest, while the remaining 50 percent is held by Shell Deepwater Tanzania B.V. Statoil has been in the country since 2007.

In 2007 the company signed a production sharing agreement (PSA) for Block 2 with Tanzania Petroleum Corporation (TPDC). Statoil Tanzania .

AS is the operator with 65 percent working interest with ExxonMobil Exploration and Production Limited as a partner with 35 percent interest. The block covers an area of approximately 5,500 square kilometres and lies in water depths between 1,500 to 3,000 metres.

The company has made many discoveries since it started its operations in the country.

Apart from the 2012 and 2013 three high impact discoveries, the company recorded discoveries Piri and Giligiliani discoveries in 2014. In 2015 Statoil made the Mdalasini discovery. The discoveries combined have proved around 22 Tcf of in-place volumes and mark an important step towards a possible natural gas development in the country.

From: Daily News