Tanzania approves assignment of Tanga block interest to Octant

Dec. 11, 2023
Tanzania's Minister of Energy approved the assignment of 74% interest in Tanga block to Octant Energy Tanzania Ltd.

Tanzania's Minister of Energy has approved the assignment of 74% interest in Tanga block in the northernmost coastal region of Tanzania to Octant Energy Tanzania Ltd. from Afren Tanzania Ltd., Petrodel Resources Ltd. confirmed in a release Dec. 11.

Petrodel holds 26% interest in the block where Octant will serve as operator. The two companies can now move into the final 3-year period of the license and focus on reprocessing the 3D seismic survey acquired in 2013, Petrodel said. 

Tanga block includes a deep basin with a thick sedimentary section that holds potential to host source rock intervals and reservoir/seal pairings, Petrodel said. Potential petroleum plays recognized to date are Lower Cretaceous sands deposited in deltaic to shallow marine environments, Upper Cretaceous submarine fans, Eocene shelf sands, and Miocene fluvial and deltaic sands, the company said. Both structural and stratigraphic traps have been identified by previous mapping campaigns.

Oil seeps and shows encountered in previous wells drilled on the nearby Pemba Island attest to the oil potential of the block and surrounding area, Petrodel said.

Petrodel was awarded Tanga, Kimbiji, and Latham licenses in Tanzania in 2006. Tanzania is home to sub-Saharan Africa’s second largest gas resources, with reserves estimated at 57.5 tcf, Petrodel said.

In 2011, Petrodel farmed out the acreage to Afren acquired the acreage in 2011 (OGJ Online, Mar. 24, 2011).