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Friday, August 7, 2015
Swala Energy has the go ahead from the Tanzanian Ministry of Energy and Mines for the farm-out of 50% of its interests in the Kilosa-Kilombero and Pangani License to Tata Petrodyne.
With the receipt of consents from the Tanzanian Petroleum Development Corporation, the Tanzanian Revenue Authority and now from the Ministry of Energy and Mines, the company is awaiting only the consent of the Fair Competition Commission (FCC).
Dr. David Mestres Ridge, Swala CEO, said: “The rapid approval by the Tanzanian regulators to the farm-out of the Swala Energy licenses illustrates their desire to encourage activity in this important economic sector. We are confident that the FCC consent shall be received soon, which shall allow Tata to join the license joint venture ahead of the planned drilling campaign.”
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