Beach Energy Ltd. (ASX:BPT) has started a 1,800-km (1,118-mi) 2D seismic program on the South block of Lake Tanganyika, Tanzania.
Offshore staff
BRISBANE, Australia –Beach Energy Ltd. (ASX:BPT) has started a 1,800-km (1,118-mi) 2D seismic program on the South block of Lake Tanganyika, Tanzania.
Early results indicate a rift structure and style similar to that seen in the Lake Albert portion of the rift where Tullow Oil has discovered oil.
Fugro Oceansismica is doing the survey that is expected to last two months followed by seven months of interpretation. A local ferry, MVMwongozowas converted into a seismic acquisition vessel including quality control equipment to make possible identification of prospects and leads of interest. Infill seismic is scheduled to follow the 2D work.
In June 2010, Beach signed a Production Sharing Agreement with the Tanzanian Petroleum Development Corporation and the government of Tanzania covering the Lake Tanganyika South block. Since that time, Beach has conducted aerial high-resolution gravity and magnetic surveys and a bathymetry survey over the lake, which has satisfied its financial commitment for the first four year term of its exploration agreement with the government.
