Scirocco Energy plc has amended the deadline, from 30 September to 20 October 2023, to complete the sale of its Ruvuma gas interest to ARA Petroleum Tanzania (APT). PRUDENT The company said that “significant” progress had been made and that it was awaiting final approval from the Tanzanian Minister for Energy to satisfy all conditions […]
Tag: Ruvuma – Tanzania
Scirocco secures more time to sell Ruvuma interest
Scirocco Energy plc has secured an extension to the long stop date for the sale of its 25% interest in the Ruvuma gas project in Tanzania. CONDITIONS PRECEDENT The company and purchaser ARA Petroleum Tanzania (APT) agreed to amend the date of the proposed $16 million transaction from 31 August 2023 to 30 September 2023. […]
Scirocco receives tax clearance to sell Ruvuma interest
Scirocco Energy today received tax clearance after paying £150,000 tax for the sale of its 25% interest in the Ruvuma gas production sharing agreement in Tanzania. CONTINGENCY PAYMENTS The company will now write to the country’s Minister for Energy to obtain final approval of the transfer of the licence interest to purchaser ARA Petroleum Tanzania […]
Scirocco extends sale date for Ruvuma interest
Scirocco Energy plc has agreed a two-month extension for the sale of its joint venture Ruvuma gas interests in Tanzania to allow more time for tax clearance. DEVELOPMENT LICENCE The company said that the process was taking longer than expected, prompting the agreement with operator ARA Petroleum Tanzania (APT) to amend the long stop date […]
Scirocco looks to early payment from Ruvuma sale
Scirocco Energy plc expects early revenues at the joint venture group Ruvuma gas project in Tanzania, with first gas now targeted for October 2023. OPERATIONS The company is still waiting to complete the sale of its 25% interest for up to $16 million to ARA Petroleum Tanzania (APT), before it leaves the oil and gas industry […]
Scirocco expects to sell Ruvuma interest during Q1 2023
Scirocco Energy plc said it now expected to sell during the first quarter of 2023 its 25% share of the Ruvuma gas asset in Tanzania. CLEARANCE The company agreed to sell its asset to ARA Petroleum Tanzania (APT), with a view to completing the transaction during December 2022. Scirocco today said that the Tanzanian fair […]