Tanzania: Swala challenges TPDC decision


Issue 272 - 04 Mar 2014 | 1 minute read

Australia’s Swala Energy says it is challenging a decision by Tanzania Petroleum Development Corporation (TPDC) to terminate negotiations for the Eyasi licence. Swala’s 65.13%-owned subsidiary Swala Oil & Gas (Tanzania) plc (SOGTP) originally bid for the Eyasi licence on a 50:50 basis with Pura Vida Energy. According to Swala, the joint bidding agreement allowed either party to withdraw at any stage, with the remaining party assuming the withdrawing party’s interests in the licence. However when Pura Vida withdrew, TPDC deemed this to be a breach of the tender guidelines.

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