PanAfrican Energy Tanzania Limited

Swala Energy Set To Acquire First Producing Asset in Tanzania

Swala Oil and Gas entered into an agreement with Orca Exploration to acquire up to 40%  interest in the Songo Songo producing assets currently held by the international finance corporation (IFC) for $130 million based on an agreed value of US$325 million as earlier announced in August. According to Orca Swala has agreed, subject to …

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Orca Exploration Closes $60 million financing for Tanzania’s Songo Songo development from IFC

Orca Exploration has announced that it has entered into a loan agreement with International Finance Corporation (IFC), a member of the World Bank Group, for a US$60 million investment in the Company’s operating subsidiary, PanAfrican Energy Tanzania Limited (PAET). According to Orca Exploration the proceeds of the Loan will be used to fund part of …

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Inchcape Shipping Awarded logistics contract by Paragon Offshore in Tanzania

Inchcape Shipping Services (ISS) has announced it has been appointed by Paragon Offshore, Houston, as marine and logistic services provider for a new drilling campaign off the Songo Songo Islands, Tanzania – the first new commercial drilling project in Tanzania in a number of years. ISS will be providing a range of services for Paragon …

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Orca Exploration Receives $60 million financing for the Songo Songo development programme

Orca Exploration has announced that it is proceeding with the first phase of the Songo Songo development programme following World Bank board approval of the International Finance Corporation financing. Through its operating subsidiary, PanAfrican Energy Tanzania Limited the World Bank board approved an investment of $60 million by IFC currently contemplated as a subordinated, income …

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Orca considering first phase of offshore development in Tanzania

Orca exploration has said it is contemplating a first phase of offshore development consisting of working over two existing wells (SS-5 and SS-9) that are currently suspended in order to fill the existing Songas infrastructure to capacity and provide operational redundancy. This follows under-utilization of the existing infrastructure with the Songo Songo field currently producing …

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