{"id":3020,"date":"2015-05-27T15:13:49","date_gmt":"2015-05-27T15:13:49","guid":{"rendered":"http:\/\/www.oilnewskenya.com\/?p=3020"},"modified":"2015-05-27T15:13:49","modified_gmt":"2015-05-27T15:13:49","slug":"woodside-energy-opts-tanganyika-south-block-tanzania","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/woodside-energy-opts-tanganyika-south-block-tanzania\/","title":{"rendered":"Woodside Energy opts out of Tanganyika South Block, Tanzania"},"content":{"rendered":"<p>Tanganyika South Block operator Beach Energy has announced that Joint Venture partner Woodside Energy has decided not to enter into the next period of the exploration program relating to the Lake Tanganyika South Production Sharing Agreement in Tanzania.<\/p>\n<p>According to Managing Director Rob Cole Beach Energy has however preserved its right to proceed into the next exploration period under the LTS PSA and has notified the Tanzanian regulator of its position in this regard as it continues assessing all options for the Lake Tanganyika South Block.<\/p>\n<p>Woodside\u2019s pullout comes just under one year since it finalized an agreement to farm-in to the prospective basin of Lake Tanganyika in western Tanzania in July 2014, when Beach Energy accepted Woodside\u2019s offer to acquire a 70% participating interest in the Lake Tanganyika South Block and the respective Production Sharing Agreement.<\/p>\n<p>Under the agreement the proposed work program included seismic studies, with an option for future drilling and operatorship.<\/p>\n<p><a href=\"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/05\/L.-Tanganyika.jpg?ssl=1\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-3021\" src=\"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/05\/L.-Tanganyika.jpg?resize=750%2C499&#038;ssl=1\" alt=\"L. Tanganyika\" width=\"750\" height=\"499\" srcset=\"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/05\/L.-Tanganyika.jpg?w=750&amp;ssl=1 750w, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/05\/L.-Tanganyika.jpg?resize=300%2C200&amp;ssl=1 300w\" sizes=\"auto, (max-width: 750px) 100vw, 750px\" \/><\/a><\/p>\n<p>Although the detailed transaction terms remained confidential Woodside would:<\/p>\n<ul>\n<li>Reimburse its share of back costs incurred by Beach Tanzania<\/li>\n<li>Fund a further round of seismic operations over the next 12 months; and<\/li>\n<li>Contribute to Beach\u2019s share of costs associated with an initial exploration well (subject to an agreed cap), should it elect to proceed with the program beyond the seismic operations.<\/li>\n<\/ul>\n<p>The initial exploration period following a one year extension to Beach Energy was to expire on 23 June 2015 with Beach Tanzania having satisfied all the requirements for the initial exploration period.<\/p>\n<p>Work completed as part of the initial exploration period included aeromagnetic and gravity surveys and a 2,080 kilometre 2D seismic survey.<\/p>\n<p>\u201cThe farm-out of the Lake Tanganyika South Block to Woodside is in line with Beach\u2019s strategy of getting in early to prospective areas, and proving the potential of those areas with work undertaken, such as seismic operations,\u201d Beach Energy Managing Director Reg Nelson said during the farm-out announcement.<\/p>\n<p>Following Woodside\u2019s decision, Beach Petroleum (Tanzania) Limited will retain 100% of the LTS PSA and remain operator.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tanganyika South Block operator Beach Energy has announced that Joint Venture partner Woodside Energy has decided not to enter into the next period of the exploration program relating to the &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/woodside-energy-opts-tanganyika-south-block-tanzania\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":1438,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[11],"tags":[26,3257,226,870,3258,3256,3255,3253,2466,3254],"class_list":["post-3020","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-2d-seismic","tag-aeromagnetic-survey","tag-beach-energy","tag-farm-out","tag-gravity-surveys","tag-reg-nelson","tag-rob-cole","tag-tanganyika-south-block","tag-tanzania","tag-woodside-energy","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/07\/l-tanganyika-block.jpg?fit=875%2C550&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-MI","jetpack-related-posts":[{"id":1437,"url":"https:\/\/www.oilnewskenya.com\/index.php\/woodside-farms-into-beach-energy-in-western-tanzania\/","url_meta":{"origin":3020,"position":0},"title":"Woodside farms into Beach Energy in Western Tanzania","author":"Samuel Kamau Mbote","date":"July 14, 2014","format":false,"excerpt":"Woodside advises that it has finalised an agreement to farm-in to the prospective basin of Lake Tanganyika in western Tanzania. 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. Woodside CEO Peter Coleman said the\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/07\/l-tanganyika-block.jpg?fit=875%2C550&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/07\/l-tanganyika-block.jpg?fit=875%2C550&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/07\/l-tanganyika-block.jpg?fit=875%2C550&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/07\/l-tanganyika-block.jpg?fit=875%2C550&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":5240,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tanzania-drc-partner-in-joint-hydrocarbon-exploration-of-lake-tanganyika\/","url_meta":{"origin":3020,"position":1},"title":"Tanzania, DRC Partner in Joint Hydrocarbon Exploration of Lake Tanganyika","author":"","date":"October 4, 2016","format":false,"excerpt":"Tanzania and the Democratic Republic of Congo have agreed in joint exploration and development of hydrocarbons in Lake Tanganyika after talks between DRC president Joseph Kabila and Tanzanian President John Magufuli. According to President Joseph Kabila the two neighbors who share the world\u2019s second deepest lake alongside Burundi and Zambia\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/02\/Tanzania-Oil-Map-e1475611112349.png?fit=726%2C564&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/02\/Tanzania-Oil-Map-e1475611112349.png?fit=726%2C564&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/02\/Tanzania-Oil-Map-e1475611112349.png?fit=726%2C564&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/02\/Tanzania-Oil-Map-e1475611112349.png?fit=726%2C564&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":5291,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-energy-raises-up-to-120-million-to-fund-burundi-block-acquisition\/","url_meta":{"origin":3020,"position":2},"title":"Swala Energy Raises Up To $120 Million To Fund Burundi Block Acquisition","author":"","date":"October 14, 2016","format":false,"excerpt":"Swala Oil & Gas (Tanzania) plc has announced it engaged Exotix Partners LLP (Exotix) to place corporate bonds of up to a value of $120 million in order to finance successful acquisition of Block D in Burundi. Swala Energy says the successful acquisition of Block D in Burundi is part\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/10\/swala-energy-1.jpg?fit=650%2C451&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/10\/swala-energy-1.jpg?fit=650%2C451&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/10\/swala-energy-1.jpg?fit=650%2C451&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":4108,"url":"https:\/\/www.oilnewskenya.com\/index.php\/airborne-gravity-gradiometry-survey-over-lake-tanganyika-north-block-commences\/","url_meta":{"origin":3020,"position":3},"title":"Airborne Gravity Gradiometry Survey over Lake Tanganyika North Block Commences","author":"","date":"November 18, 2015","format":false,"excerpt":"The Tanzania Petroleum Development Corporation (TPDC) has said it has started acquiring a non-invasive Airborne Gravity Gradiometry Survey over wholly operated Lake Tanganyika North Block which cuts across five districts namely; Kigoma rural, Kigoma, Ujiji, Uvinza and Mpanda rural. The survey \u00a0which started November 17th expected to take three months\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/07\/tanzania-1.jpg?fit=418%2C328&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1076,"url":"https:\/\/www.oilnewskenya.com\/index.php\/statoil-exxonmobil-cnooc-fight-for-tanzanias-block-43a\/","url_meta":{"origin":3020,"position":4},"title":"Statoil , ExxonMobil CNOOC fight for Tanzania\u2019s Block 4\/3A","author":"Samuel Kamau Mbote","date":"May 22, 2014","format":false,"excerpt":"[twitter-follow screen_name='oilnewskenya'] China National Offshore Oil Corporation (CNOOC) \u00a0Statoil\u00a0 and ExxonMobil will have to wait and see who gets the offshore block 4\/3A after the three companies submitted bids for the same block in the 4th deep offshore and North Lake Tanganyika licensing round advertised in October 2013. The other\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/05\/tanzania.jpg?fit=398%2C517&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1428,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tanzania-with-gas-already-in-its-bag-tanzanias-rift-system-set-to-become-next-oil-frontier\/","url_meta":{"origin":3020,"position":5},"title":"Tanzania: With Gas Already in Its Bag Tanzania&#8217;s Rift System Set to Become Next Oil Frontier","author":"Samuel Kamau Mbote","date":"July 11, 2014","format":false,"excerpt":"Original Story by\u00a0Chaby Barasa for Tanzania daily News IF recent geological findings are anything to go by, the East African Rift System (EARS) is poised to become the next big thing for oil companies, more so Tanzania where there are numerous areas with the possibility of striking oil. Thanks to\u2026","rel":"","context":"In &quot;News by others&quot;","block_context":{"text":"News by others","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/news-by-others\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/3020","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=3020"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/3020\/revisions"}],"predecessor-version":[{"id":3022,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/3020\/revisions\/3022"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/1438"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=3020"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=3020"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=3020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}