Statoil and ExxonMobil join forces in Tanzania

Tim Dodson, senior vice president Exploration. (Photo: Hild Bjelland Vik)

Statoil has signed an agreement with an affiliate of ExxonMobil to transfer 35% of its interest in Statoil operated Block 2 in Tanzania. Statoil now holds 65% interest in the 11,099 square kilometers block.

“Statoil is looking forward to working with ExxonMobil in our frontier acreage offshore Tanzania. This is a deepwater environment and both companies have extensive deepwater experience,” says Tim Dodson, senior vice president Exploration.

The agreement, executed between Statoil Tanzania AS and ExxonMobil Exploration and Production Tanzania Limited, was approved by the Tanzania government on March 9.

Statoil signed a Production Sharing Agreement on April 18, 2007 with the Government of the United Republic of Tanzania and the Tanzania Petroleum Development Corporation (TPDC).

Offshore Tanzania is considered a frontier exploration area. A phase of 2D seismic acquisition was completed in 2008 and the acquisition of a 3D seismic survey was completed in February this year.

Source: Statoil