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Woodside bags more Tanzania acreage

14th July 2014

Woodside has signed an agreement to farm-in to the prospective basin of Lake Tanganyika in western Tanzania

Woodside bags more Tanzania acreage
Woodside CEO Peter Coleman said the farm-in provided an opportunity to secure a large acreage footprint in an exciting and underexplored oil frontier

Beach Energy has accepted Woodside’s offer to acquire a 70 per cent participating interest in the Lake Tanganyika South Block and the respective 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.

“Securing this highly prospective acreage represents another step forward in building Woodside’s global exploration portfolio,” said Coleman.

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.

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