Songo songo

Orca Exploration Announces Closing of the First Tranche of the Swala Investment

Orca Exploration Group has announced that the escrow release conditions have been met regarding the first tranche of the previously announced investment of up to US$130 million by Swala Oil & Gas (Tanzania) plc in the Orca Group. As a result, the definitive agreements for the Investment have been released from escrow and are delivered …

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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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Swala Oil & Gas Seeks minority investment in the Orca Group

Orca Exploration Group has confirmed that it is in discussions with Swala Oil & Gas (Tanzania) plc regarding a possible minority investment in PAE PanAfrican Energy Corporation (PAEM), a Mauritius-registered company that is a wholly-owned subsidiary of the Company. Orca which is the operator of the 879 Bcf Songo Songo natural gas field  is however  quick …

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Tanzania’s Madimba, Songo Songo to Dar es Salaam Gas Pipeline Cost $1.3 Billion

The Tanzania Petroleum Development Corporation has released a statement on costs involved in the Madimba, Songo Songo to Dar es Salaam gas pipeline since construction commenced in 2013 to completion date in 2015. The project which cost $1.225 billion was financed by the Chinese Government to the tune of $1.16 billion (95 percent total cost) …

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Tanzania Pipeline Route Not A Done Deal – Kenya

Days after Tanzania and Uganda are said to have agreed on a more southern route that would avoid Kenya’s oil rich Lokichar basin the latter’s finance and energy cabinet secretaries are putting a brave face saying it is not a done deal. According to finance CS Henry Rotich and Energy CS Charles Keter despite the …

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Tanzania to Generate 2000MW Electricity from Natural Gas by 2018

Tanzania hopes to generate 2000 megawatts from natural gas in the next three years as the country hopes to increase its power generation capacity to 10,000 megawatts by 2025. Already the country has launched a 532 kilometre from Mtwara through Songo Songo to Dar es Salaam pipeline last weekend will utilize gas from four onshore …

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Tanzania President set to launch Gas Processing Facility and Pipeline at Mtwara

Tanzania President Jakaya Kikwete is this week expected to launch gas processing facility and pipeline from Mtwara through Songo songo to Dar es Salaam according to Tanzania Petroleum Development Corporation (TPDC) managing director Dr. James Mataragio. According to Mataragio construction works are already complete with pumping of gas already ongoing between Mtwara and Dar es …

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Bounty Oil & Gas expects US$2.1 million yearly from Tanzania gas sales

Australian oil and gas explorer with interest at the Nyuni PSA with 5 percent interest has said it expects to generate net operating profit before tax for Bounty of $3 million (US$2.1 million) per annum according to the latest financial statement from the company. Bounty Oil believes that even after TPDC exercises it back-in right …

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TPDC to acquire 5% interest in the Kiliwani North License

Aminex has said that the Tanzania Petroleum Development Corporation (TPDC) has notified the Company of its intention to acquire a 5% working interest in the Kiliwani North Development (KNDL) and will become a full working interest partner going forward. Under the terms of the Nyuni East Songo-Songo Production Sharing Agreement which governs the KNDL, TPDC …

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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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