Woodside keen to explore offshore Lake Tanganyika

Woodside has finalized an agreement to farm-in to the Lake Tanganyika basin in western Tanzania.

Jul 14th, 2014
Woodside in Lake Tanganyika
Woodside in Lake Tanganyika

Offshore staff

PERTH, Australia -- Woodside has finalized an agreement to farm-in to the Lake Tanganyika basin in western Tanzania.

Beach Energy has agreed to shed 70% of its interest in the mainly offshore Lake Tanganyika South Block and the respective production sharing agreement.

Woodside CEO Peter Coleman said this was an opportunity to secure a large acreage footprint in an under-explored, oil-prone frontier basin.

The proposed work program includes seismic studies, with an option for future drilling and operatorship. The agreement is pending government and regulatory approvals.

7/14/2014

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