Petroleum Africa
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Monday, August 24, 2015
Swala Energy’s subsidiary, Swala Oil and Gas (Tanzania) received a no objection notice from the Tanzanian Ministry of Energy and Mines for the farm-out of 50% of its interests in the Kilosa-Kilombero and Pangani licenses to India’s Tata Petrodyne Ltd (TPL).
With the receipt of consents from the TPDC, 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 SOGTP 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 TPL to join the license joint venture ahead of the planned drilling campaign.”
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