Company Moves News Oil & Gas

Scirocco Energy COO Doug Rycroft steps down

Scirocco Energy plc chief operating officer Doug Rycroft has stepped down from his position following the company’s completed sale of its Ruvuma gas interest in Tanzania. Chief executive Tom Reynolds said: “As a secondee from Gneiss Energy, which assisted us with the disposal of Ruvuma, Doug has played a critical role in managing Scirocco’s interest […]

News Oil & Gas

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 The investment was originally made by Solo Oil plc, from which Scirocco […]

News Oil & Gas

Scirocco agrees further time to complete Ruvuma sale

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 […]

Legal News Oil & Gas

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 […]