Tata Petrodyne, a subsidiary of the $110 billion Tata Group, will secure a 25% stake in the acreage in return for $5.7 million in cash, payment of past costs and a free carry for Swala on one wildcat in each of the licences.
The well costs carries are capped at $2.5 million and $2.125 million for the Kilosa-Kilombero and Pangani licences, respectively.
Tata
