SWALA ENERGY GETS MINISTERIAL CONSENT FOR TANZANIA FARM-OUTS
Swala Oil and Gas (Tanzania) plc (‘Swala’ or ‘the Company’) is pleased to advise that it has received a
no objection notice from the Ministry of Energy and Mines (“MEM”) to the farm-out of 50% of its
interests in the Kilosa-Kilombero and Pangani licences to Tata Petrodyne Limited (“TPL”).
With the receipt of consents from the Tanzanian Petroleum Development Corporation, the
Tanzanian Revenue Authority and now from the Ministry of Energy and Mines, the Company is
awaiting only the consent of the Fair Competition Commission (“FCC”). The Company shall update
the market once this final consent is received.
Dr. David Mestres Ridge, Swala CEO, said: “The rapid approval by our regulators to the farm-out of
our two licences illustrates their desire to encourage activity in this important economic sector. We
are confident that the FCC consent shall be received soon, which shall allow TPL to join the licence
joint venture ahead of the planned drilling campaign.”
For further information please contact:
Swala Energy Limited
David Mestres Ridge (CEO)
david.mestres@swala-energy.com
www.swala-energy.co.tz
Frontline Porter Novelli
Irene Kiwia
T. +255 787 611 213
irene@frontline.co.tz
About Swala:
Swala is an affiliated company to Swala Energy Limited, a company in turn listed on the Austral
SOURCE:Swalaenergy.com
Comments are closed.