Swala Oil and Gas Tanzania Plc (SOGTP) says the 2D seismic
acquisition survey which it conducted in Moshi Basin that is part of
their Pangani licence in the northern part of country was successful and
may serve for their drilling targets for next year.
In a statement released by its Chief Executive Officer, Dr David
Mestres Ridge to The Guardian earlier this week, Ridge said the seismic
acquisition survey began on August 24 this year and covered 200km across
the basin.
Further, he announced that his firm has identified a number of
potential structural leads that it needs to confirm from the final
processing of the field stack data.
He explained that these potential leads, which are located at the
basin margins, are expected to provide targets for the 2015 drilling
programme.
“Survey of the Moshi basin has made quick progress and stayed within the budget,” he said.
“We will now map the structural leads the survey has identified at
the basin margins to identify potential drilling locations for the next
phase of operations,” said Ridge.
According to Ridge, the seismic contractor, Polaris, will now move
to the Kilombero basin in their Kilosa-Kilombero license where Polaris
will acquire a further 430km of 2D data over the area identified in the
Kito Prospect of 2013.
In August this year, SOGTP announced that it would conduct the
seismic survey for its Pangani licenced block to determine potential hot
spots of oil and gas resources.
At the time, SOGTP CEO Dr Ridge said the company will commission
some University of Dar es Salaam students to participate in the survey
to gain field experience.
In addition, the CEO noted that plans to establish a Swala trust,
an innovative approach to engage with communities in its operations, is
underway.
“We have an active business development programme and intend to
develop operations beyond our current license. We look forward to
continue developing the business and give value to our current and
future stakeholders,” he said.
He also took the time to express gratitude for what he described as
‘cordial support and professionalism’ from advisors of the company who
successfully listed it with the Dar es Salaam Stock Exchange (DSE)
earlier this year with an IPO that surpassed projected expectations.