Woodside advises that it has finalised an agreement to farm-in to the prospective basin of Lake Tanganyika in western Tanzania.<\/p>\n
Beach Energy has accepted Woodside\u2019s offer to acquire a 70% participating interest in the Lake Tanganyika South Block and the respective Production Sharing Agreement.<\/p>\n
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.<\/p>\n
\u201cSecuring this highly prospective acreage represents another step forward in building Woodside\u2019s global exploration portfolio\u201d Mr Coleman said.<\/p>\n
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.<\/p>\n","protected":false},"excerpt":{"rendered":"