The agreement, executed between Statoil Tanzania and ExxonMobil Exploration and Production Tanzania, was approved by the Tanzania government on March 9.
Tim Dodson, senior vice president Exploration at Statoil, said: “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.”
Earlier, Statoil had signed a Production Sharing Agreement (PSA) 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.
