Petrobras, Shell Enter Farm-Out Agreement for Tanzania Blocks

Petrobras’ subsidiary, Petrobras Tanzania Ltd, has entered into a farm-out agreement granting 50% of its share in Blocks 5 and 6 in Tanzania to Shell Deepwater Tanzania BV.

The blocks are located offshore Tanzania, in the Indian Ocean and are nestled at water depths ranging from 1,969 to 9,843 feet (600 to 3,000 meters). Petrobras Tanzania will remain as operator of both blocks. The state oil company, Tanzanian Petroleum Development Corporation (TPDC), is the concessionaire of the blocks.

The Zeta-1 well is currently being drilled in Block 5 by the Ocean Rig Poseidon drillship and drilling should be completed by year-end; while 3D seismic evaluation is being conducted in Block 6. 

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