Dominion to Farm-Out Stake Offshore Tanzania
Dominion will farm-out a 20% working interest in Block 7 offshore Tanzania to a subsidiary of Mubadala Oil & Gas.
Following the completion of the transaction, Dominion will hold an 80% working interest and will operate the block. Mubadala will pay Dominion a US $20 million cash payment on closing, and will assume Dominion’s remaining 80% working interest in a new seismic program expected to commence before year-end.
The new consortium will work together to determine potential targets, both within Alpha and on other prospects mapped within the survey area.SubseaIQ provides focused, in-depth coverage of offshore field development activities around the world, with daily updates on hundreds of offshore fields and facilities. Click here to sign up for the free weekly email newsletter.
- Ophir Extends E. Africa Footprint with Dominion Acquisition (Oct 13)
- Dominion to Farm-Out Stake Offshore Tanzania (Oct 05)
- Dominion Takes Reins at Lamu Basin Offshore Kenya (Oct 05)