Ophir Energy in Talks to Sell Stake in Tanzania Gas Fields

Ophir Energy confirmed media reports that it is looking to sell down its interests in Blocks 1, 3 and 4, offshore Tanzania .

“The company can confirm it has a process ongoing to sell down a part interest in these Blocks but there is no certainty that this process will conclude successfully nor can there be any certainty over the value of any such deal if it were to complete,” Ophir said in a statement.

GAIL of India is looking to buy anywhere between 10% and 30% stake in five Tanzania gas blocks held by Ophir Energy, according to Financial Express newspaper.

BG Group, as operator, has a 60% interest in Blocks 1, 3 and 4 offshore Tanzania, with Ophir Energy holding 40%. The companies are currently evaluating an LNG export project.

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LNG World News Staff, October 24, 2013; Image: Ophir