Swala Energy in negotiations for Tanzanian Eyasi Licence

oilfield tanzania-antandrus Wikimedia CommonsEyasi Licence is a highly prospective area located on the southern extreme of the eastern branch of the East African Rift System (EARS). (Image source: Antandrus/Wikimedia Commons)Swala Energy has been invited into exclusive negotiations with Tanzanian Petroleum Development Corporation (TPDC) for an interest in the Eyasi Licence onshore northern Tanzania for oil explorations

If the 32.5 per cent interest is awarded, then the oil and gas explorer, with assets along the East African Rift System (EARS), would become the operator of the 21,000 sq km license.

Reviews of vintage gravity and magnetic data, together with surface geology investigations undertaken by Swala Energy suggest that the Eyasi Licence area may contain four separate basins with potential sediment thicknesses of around 3,000 metres. Each of these basins has an area of around 2,000 sq km and has the potential to provide the source materials for hydrocarbon generation.

Swala Energy sources said that the Eyasi Licence is a highly prospective area located on the southern extreme of the eastern branch of the EARS.

David Mestres Ridge, CEO of Swala Energy, said, “We are delighted to have been invited to undertake exclusive negotiations to secure the Eyasi Licence. Swala Energy has been working diligently to obtain this highly sought-after licence area.”

The western branch of the EARS has already proven to be a major oil province with around two billion barrels of discovered oil in Lake Albert in Uganda, the sources added.

More recently the eastern branch has seen a number of oil discoveries announced in northern Kenya in the Lokichar Basin where Tullow Oil and Africa Oil have recently been successful with the Twiga South-1 and Ngamia-1 wells.

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