Orca suspends efforts outside Tanzania, names interim CEO

Orca Energy Group Inc. has suspended ongoing efforts to acquire and develop an integrated gas business in African countries outside of Tanzania in light of challenging market conditions for the oil and gas sector, taking into account the impact that government responses to the COVID-19 pandemic continue to have on domestic and global levels of economic activity.

The company will focus solely on “the continued value maximization through the optimization and monetization of the company's rights to develop the Songo Songo natural gas field in Tanzania,” it said Sept. 17 (OGJ Online, Aug. 10, 2020).

In connection with the change, Nigel Friend has resigned as chief executive officer of the company and its subsidiaries. Jay Lyons has been appointed interim chief executive officer of Orca. Lyons has been a member of Orca's board of directors since May 2019.

Orca is an international public company engaged in natural gas exploration, development, and supply in Tanzania through its subsidiary PanAfrican Energy Tanzania Ltd.