Project Profile
Value: Undisclosed
Location: Near Pangani town, 45 km south of Tanga, mouth of the Pangani River, northern Tanzania
Area: 17,156km2 gross
Start-up Year: -
Swala Oil and Gas Ltd through its subsidiary, Swala Oil and Gas (Tanzania) Limited (SOGTL), was awarded a 50% equity interest in the Pangani Licence near Pangani town, 45 km south of Tanga at the mouth of the Pangani River in northern Tanzania on the 20th February 2012. SOGTL operates the licence and is partnered by Otto Energy (50%). The license covers an area of 17,156km2 gross. The joint venture committed to carry out a certain work programme over a four-year exploration phase. In the first year, the partnership committed to reprocess and reinterpret historical data; to carry out field trips; and to carry out a 3,000km airborne gravity-magnetic survey. This work was completed in October 2012, five months ahead of schedule. The airborne survey eventually covered more than 8,000km of data through efficient use of the gravity and separate magnetic survey.
The results of this work suggest the presence of two shallow basins, each of about 2,000 sq km in area, with areas of anomalous stressed vegetation. The basins appear to be quite shallow although the uncertainties in the depth modelling from gravity and magnetic data allow for the basins to contain up to 2,000m of Neogene sediments. The geometry of the basin fill will be identified after the seismic acquisition in 2013. The partnership has the right to end the Pangani licence agreement without penalty if the technical results of the exploration programme carried out in the first or second year are unpromising. The partners have now decided to progress into the second year of operations, during which they will acquire 200km of 2D seismic and gather 400 geochemical samples.
Operators:
Swala Oil and Gas Ltd (through its subsidiary Swala Oil and Gas Limited - SOGTL): Operator with 100% interest
Otto Energy: 50% interest
Contractors:
Polaris International: Carry out a 2D seismic acquisition programme