Woodside to Exit Lake Tanganyika Block

Thursday, May 28, 2015

Woodside Energy is pulling out of Tanzania’s Lake Tanganyika South PSA (LTS PSA) according to the company’s partner Beach Energy. Beach said that Woodside advised that it had decided not to enter the next exploration period for the block.

Beach has preserved its right to proceed into the next exploration period under the LTS PSA and has notified the Tanzanian authorities of its decision to proceed. Beach is currently assessing all options for block.

Following Woodside’s decision, Beach retains 100% of the LTS PSA and remains operator.

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