News Oil & Gas

Scirocco completes sale of 25% legacy interest in Ruvuma

Posted on Author editorial Comments Off on Scirocco completes sale of 25% legacy interest in Ruvuma

Scirocco Energy plc has completed the sale of its 25% legacy interest in the Ruvuma onshore gas project in Tanzania.

The company said that purchaser ARA Petroleum Tanzania had paid the balance of $2.54 million. Future contingent payments will depend on Ruvuma’s development.

The investment was originally made by Solo Oil plc, from which Scirocco was created in 2020.

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