News Oil & Gas

Scirocco sees TPDC waive right of first refusal over Ruvuma gas sale

Posted on Author editorial Comment(1)

Scirocco Energy plc said that Tanzania’s national energy company had confirmed it would not exercise its statutory right of first refusal over the investment company’s sale of its 25% interest in the Ruvuma gas asset.

PSA: Scirocco holds a 25% working interest in the Ruvuma (Aminex)

APT

Tanzania Petroleum Development Corporation (TPDC) and project operator ARA Petroleum Tanzania Ltd (APT) both hold pre-emption rights.

Scirocco added it maintained an active dialogue with APT on its intention to exercise its pre-emption right.

“We thank TPDC for their constructive engagement throughout the process and we look forward to making further progress towards completing the transaction as discussions with APT continue in a similarly constructive manner,” Scirocco chief executive Tom Reynolds.

In June, Scirocco agreed to sell its interest in Ruvuma to Wentworth Resources.

RUVUMA

Scirocco holds a 25% working interest in the Ruvuma petroleum sharing agreement in southeast Tanzania.

The project covers 3,447 km2 of which approximately 90% lies onshore and the balance offshore.

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One Reply to “Scirocco sees TPDC waive right of first refusal over Ruvuma gas sale”

  1. Pingback: Scirocco signs binding deal with APT for Ruvuma interest - Extractive Industries

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