In a statement availed to The Guardian yesterday, Swala Chief Executive Officer Dr David Ridge said under the Production Sharing Agreements (PSAs) with its partner, drilling for the wells was to last until February 20 next year.
Dr Ridge said Swala oil and its partner had already carried out a seismic survey by December last year while the process for interpreting the survey was done during the first half of 2015. He said they had been left with limited time to confirm drilling locations and carry out the necessary environmental impact assessments for the project, thus prompting them for the drilling extension.
“Our partner requested Tanzanian Petroleum Development Corporation (TPDC) and the responsible ministry to complete its drilling exploration obligations into the next phase and we are both content with the modification,” he said.
He said the two firms have so far appointed the operations manager responsibility with the drilling while at the same time conducting consultations with environmentalist on environmental impact assessments on the location.
According to him, the license extension means allowing them to continue with their preparatory work to maximise the chances of success, minimising costs whilst not compromising on health, safety or environmental integrity.
SOURCE: THE GUARDIAN
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