Woodside secures Tanzania acreage
LNG player Woodside has finalised an agreement to farm-in to the prospective basin of Lake Tanganyika in western Tanzania.
Beach Energy has accepted Woodside’s offer to acquire a 70% participating interest in the Lake Tanganyika South Block and the production sharing agreement.
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.
Press Release, July 14, 2014; Image: Woodside