Woodside Energy has decided not to enter into the next period of the exploration program relating to the Lake Tanganyika South Production Sharing Agreement in Tanzania, Beach Energy has informed.
Beach has preserved its right to proceed into the next exploration period under the LTS PSA and has notified the Tanzanian regulator of its position in this regard.
“Beach is currently assessing all options for the Lake Tanganyika South Block,” the company said in a statement.
Following Woodside’s decision, Beach Petroleum (Tanzania) Limited will retain 100% of the LTS PSA and remain operator.