Heritage relinquishes Northern block license in favour of the South in Tanzania

Heritage Oil has relinquished  its  Rukwa North license in Tanzania in favour of the neighbouring  Rukwa South licence which had showed better prospectivity after an analysis of the initial seismic data.

“Initial interpretation of the 2D seismic data acquired in the first quarter of 2013 across the Rukwa licences has been completed. The results indicate that the principal prospectivity lies in the Rukwa South Licence area and as such the Rukwa North Licence area has been relinquished,” Heritage said in its operational update.

The London-listed company announced that its study had showed the new prospect area had similar geological similarities with the Kingfisher discovery in neighbouring Uganda.

“Focused interpretation over the retained Rukwa South licence area has resulted in the identification of several prospects, geologically analogous to the Kingfisher discovery in Uganda, for which detailed prospect mapping and evaluation is ongoing.”

Meanwhile heritage says it has completed a geochemical survey of its Kyela licence still in Tanzania and has planned drilling in 2014 and 2015.

Elsewhere in Nigeria, the company has brought the Uzere West field in OML 30 back on production after it was shut in for two years for maintenance which has helped the block achieve gross daily production of more than 50,000 barrels of oil.

 

Author: Samuel Kamau Mbote

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