Burundi: Swala takes Block D
Issue 333
- 29 Oct 2016
| 1 minute read
Swala Oil and Gas (Tanzania) has bought Surestream Petroleum (Burundi), which holds 100% in Block D covering part of Lake Tanganyika. The transaction gives Surestream a 6.25% stake in Swala. The block is partly onshore and partly offshore, and covers portions of the northern end of Lake Tanganyika, an area where oil seeps, slicks and tar balls have been reported. “The Burundi licence is a very prospective licence and its development will be helped by the nearby route of the proposed Uganda-Tanzania oil pipeline,” said Swala chief executive David Mestres Ridge.
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