Ophir adds to acreage off Tanzania

Offshore staff

LONDON -- Ophir Energy has agreed to take a 70% operated interest in Tanzania’s East Pande block from Ras Al Khaimah Gas Tanzania (RAKGas).

The license is on the coastal region of southern Tanzania, and covers an offshore and onshore area of over 7,500 sq km (2,896 sq mi).

It is immediately west of blocks 1, 3, and 4 (Ophir 40%), where three deepwater wells have each yielded gas discoveries. Maximum water depth in the East Pande block is around 2,000 m (6,561 ft).

The production sharing agreement was awarded to RAKGas in 2006. Late last year, the company acquired 1,800 line km (1,118 mi) of 2D seismic data over the offshore section. Data indicates shared geological characteristics between East Pande and the acreage to the east.

Subject to partner/government consents, Ophir plans to acquire new 3D seismic in East Pande, the offshore section of the block. Under the terms of the farm-in, Ophir will fund 100% of the cost of the survey and will reimburse certain back-costs.

If Ophir opts to drill, RAKGas will be carried for the first exploration well.

04/08/2011



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