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Setting sail: off Tanzania

ExxonMobil takes Tanzania bite

Norwegian producer Statoil is set to transfer a 35% stake in Block 2, in Tanzania's frontier offshore play, to US supermajor ExxonMobil.

Upstream staff 31 March 2010 09:33 GMT

Statoil will retain a 65% operating stake in the 11,099 square kilometre block.

The agreement was given Tanzanian government approval on 9 March.

Statoil has already carried out a 2D seismic shoot across the block and has just wrapped up a 3D survey.

Published: 31 March 2010 09:33 GMT | Last updated: 31 March 2010 13:13 GMT

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