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2014-04-02 08:11:00

TANZANIA: OIL SELLS

TANZANIA: OIL SELLS

AA. Dar es Salaam — Ophir Energy and Pavillion are undergoing oil and gas exploration in Tanzania have finally concluded a deal worth millions of dollars that will see Pavilion acquiring a 20% stake in Ophir energy.

The completion of the sale of Ophir's energy Tanzania's offshore blocks, 1, 3 and 4 worth more than $1,255 million signifies another new era of Pavillion investment in the country meaning the two giant firms retains a 20% stake each with BG Group, remaining with its 60 shares.

A statement that was availed to East African Business Week last week said the transaction that…

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Tags: TANZANIA, OIL, OPHIR
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