Heritage Oil Limited through its Tanzanian Subsidiary Heritage Rukwa is set to start drilling its first experimental oil well in Tanzania’s Rukwa Rift Basin by the end of next year The citizen newspaper reported.
The move comes after successful completion of exploration in the area according to the company Managing Director Jim Baban.
Baban said Heritage is confident to start experimental oil drilling after successful explorations in Lake Rukwa, while continuing with exploration in Kyela, Mbeya region.
“We hope to have the first oil barrel at the end of next year. We operate in many countries of the world in the areas of oil exploration, drilling, production and distribution,” said Baban.
Heritage is an international oil exploration company, which discovered oil in Uganda in and operates in Tanzania, Nigeria, Malta, Libya, Russia, Pupua New Guinea and Ghana.
Tanzania is the lead regional Partner of Uganda in the Oil and gas infrastructure. The two Nations in April 2016 agreed to construct a joint Pipeline from Uganda’s Oil-rich lake Albert valley to Tanzania’s North Eastern Port of Tanga.
Tanzania has expressed interest to buy an 8% stake in Uganda’s oil refinery project.
Speaking at the press conference acting Managing Director of Tanzania Petroleum Development Corporation (TPDC), Kapulya Musomba said that they are in good progress in terms of preparing LNG construction, while awaiting legal requirements to be wound up.
The country manager for Statoil, an international company that represent the group of companies lined up for LNG construction, Mr Oystein Michelsen also said that preparation was going on well.
Source: The Citizen