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Oil & Gas

Statoil seeks Tanzanian clarification on impact of new oil law

Statoil ASA is seeking clarification on Tanzania’s new petroleum law and wants to learn how it will affect companies like itself already operating in the nation, local commercial manager Oivind Holm Karlsen said. “We need to go through the law to make sure we have a common understanding of what it is,” said Karlsen in an interview Tuesday in the commercial capital, Dar es Salaam, during a break at a conference. “We need to understand what is the implication and how will the production-sharing agreements that we already have be honored in light of that law.” Parliament passed the petroleum legislation in July, after repeated delays, ushering in a royalty regime in which energy companies pay 12.5 percent for onshore oil and gas production and 7.5 percent for offshore.

Oil & Gas

Statoil makes Tanzania gas discovery

Statoil has made a new gas discovery in Tanzania. The Norwegian company said the Mdalasini-1 exploration well had resulted in the new find. The discovery of an additional 1.0-1.8trillion cubic feet (tcf) of natural gas in the well brings the total of on-place volumes up to approximately 22 tcf in Block 2. Nick Maden, senior vice president for Statoil's exploration activities in the Western Hemisphere, said: “The Mdalasini-1 discovery marks the completion of the first phase of an efficient and successful multi-well exploration programme offshore Tanzania."

Oil & Gas

Ophir Energy hits dry wells in Tanzania

Ophir Energy has hit a number of dry wells in some of its Tanzanian offshore assets. The company said the Tende-1, which was drilled in East Pande by the Deepsea Metro I drillshop had shown no moveable hydrocarbons in the prospect. Initial gas traces had been captured in the upper strata of the primary objective.

Oil & Gas

Aminex and Solo close to striking deal

Aminex PLC is set to close its sale with Solo Oil for 13% of its asset in the Kiliwani North Development Licence (KNDL) in Tanzania for $7million. The deal will mark a milestone for Aminex by providing it with the its first revenues from its Tanzanian assets. Both Aminex and Solo Oil have advised shareholders of the plans, and are currently waiting for approval from the Tanzanian authorities.