Energy and Minerals Minister Dr Ibrahim Msabaha, signed the agreement for the government at a ceremony held in Dar es Salaam. Managing Director of the Tanzania Petroleum Development Corporation (TPDC) Yona Killagane and the Chief Executive of Dominion, Michael Garland, were also present.
Dr. Msabaha said the production-sharing agreement is expected to come in force when the dry season sets in later in the year, after a study of existing data in the exploration area.
The Selous basin is still relatively un-explored. Shell did some exploration in the area in the early 1980s.
The signing of the agreement brings to eleven the number of firms prospecting for oil in the country along the coast and offshore in the Indian Ocean.
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