Petroleum Africa
Find us on: 
Tuesday, July 15, 2014
Woodside Petroleum increased its presence in Africa with the finalization of a farm-in agreement with Beach Energy. Beach accepted Woodside’s offer to acquire a 70% participating interest in the Lake Tanganyika South Block in Tanzania.
Woodside CEO Peter Coleman said the farm-in provided an opportunity to secure a large acreage footprint in an exciting and underexplored oil prone frontier basin. “Securing this highly prospective acreage represents another step forward in building Woodside’s global exploration portfolio,” Coleman added.
The proposed work program includes seismic studies, with an option for future drilling and operatorship. The agreement is subject to required government and regulatory approvals.
This is the second deal in recent weeks that Woodside has entered into for access to acreage in Africa; in early July the company signed an deal that puts it operating offshore Morocco.
" alt="TAG Oil Completes Fraccing Program at Egypt’s T100 Well in Western Desert">
" alt="Sintana to Expand Asset Base in Namibia with Acquisition">
" alt="Luanda Gives Afentra Nod for Azule Acquisition">
" alt="TotalEnergies Increases Stake in ROC’s Giant Moho Field and Sells Mature Assets">
" alt="Africa’s $824 Billion Debt Burden and Opaque Resource-Backed Loans Hinder its Potential">
" alt="African Refiners Ponder Threats to Energy Security for Africa as Transition Takes Center Stage">
" alt="Invictus Inks Gas Sales MOU to Deliver Power to Eureka Gold Mine">
" alt="Globeleq Acquires the 25 MWp Winnergy Solar PV Plant in Egypt">
