Otto Energy completes seismic program over Kilombero basin
Otto Energy completes seismic program over Kilombero basin
SYDNEY, Australia -- Otto Energy has announced that the JV has successfully completed a 430 km 2D seismic program over the Kilombero basin in central Tanzania. Otto Energy Tanzania Pty Ltd, a wholly owned subsidiary of Otto, has a 50% participating interest in the Kilosa Kilombero license.
The seismic survey was carried out by Otto’s JV partner and operator Swala Oil and Gas (Tanzania) Plc, a wholly owned subsidiary of Swala Energy Limited.
The JV has already identified the Kito Prospect as a potential drilling target for 2015. The new seismic data are currently being processed ahead of detailed interpretation that aims to map additional potential drilling targets for the forthcoming drilling campaign. The JV will carry out basin modelling and seismic amplitude studies to help rank the prospect portfolio ahead of these planned drilling activities.
Matthew Allen, Otto’s CEO, said, “The work program of the JV in the Kilosa-Kilombero licence has been executed in line with the work program commitments to TPDC, in an area that had not previously seen any oil or gas exploration activity. We look forward to the results of the detailed mapping, basin modelling and seismic amplitude studies to support the final drill candidate selection.
