Statoil Buys Stake in Tanzania Block

Statoil has acquired a 12% working interest in the Block 6 licence offshore Tanzania from operator Petrobras Tanzania.

Block 6 covers 5,549 sq kms in the Mafia basin offshore Tanzania, with a water depth of 1,800 metres. The block is located about170 kms north of the Statoil-operated Block 2, where the company in 2012 and 2013 has made three high-impact gas discoveries.

After the farm-in completion, operator Petrobras Tanzania will hold a 38% working interest, while the remaining 50% is held by Shell Deepwater Tanzania.

The transaction is subject to approval by Tanzanian authorities.