Energy Capital & Power

Octant Energy to Operate Tanzania’s Tanga Block

Connect with us:

Tanzania_Blocks_Exploration

Tanzania’s Ministry of Energy has approved the transfer of a 74% interest in the Tanga block from independent oil and gas company Afren to Octant Energy.

The decision places Octant Energy as the block’s operator with a 74% interest, while oilfield services company Petrodel holds the remaining 26% stake. Both parties are now set to enter the final three-year licensing period, leveraging cutting-edge technology to reprocess 3D seismic initially acquired in 2013.

“Petrodel had been a first mover in Tanzania and was awarded Tanga, Latham and Kimbiji exploration licences under competitive tender. We farmed out an interest to Afren and so we are delighted with what is a most positive and significant development, and we look forward to working with our partner Octant in realizing Tanga’s significant potential,” said Michael J. Prest, Founder and Chief Executive of Petrodel.

Share This Article

Thaakira Samodien

Thaakira Samodien

Thaakira Samodien is a strategic content writer at Energy Capital and Power. She has a shared passion for writing and is an advocate for the growth and development of African Nations

Trending