ExxonMobil In Talks To Enter Tanzania's Statoil Block--Sources
March 05 2010 - 3:26PM
Dow Jones News
Exxon Mobil Corp. (XOM) is in advanced talks to buy into Statoil
ASA's (STO, STL.OS) block in Tanzania, people familiar with the
matter said Friday, a move that would mark the first entry of an
oil major oil company into the East African nation.
The two parties are currently negotiating the approval of the
Tanzanian government for the farmout--a process to enter a
partner's block to cover its costs, the people familiar with the
matter said.
ExxonMobil already has a presence in nearby Madagascar and could
leverage its geological knowledge in Tanzania, one person said.
ExxonMobil and Statoil declined to comment.
Norway's Statoil is the operator of deepwater Block 2 off the
coast of Tanzania in the Indian Ocean, according to its Web
site.
Other companies with interests in the country include Heritage
Oil PLC (HOIL.LN) and Dominion Petroleum Ltd. (DPL.LN).
-By Benoit Faucon, Dow Jones Newswires; +44-207-842-92-66;
benoit.faucon@dowjones.com
(Nicholas Bariyo in Kampala contributed to this article.)
Dominion Pet (LSE:DPL)
Historical Stock Chart
From Apr 2024 to May 2024
Dominion Pet (LSE:DPL)
Historical Stock Chart
From May 2023 to May 2024