The news emerged just weeks after Orca chief executive Jay Lyons said that there was a “crisis coming” because the government does not see eye to eye with the company.
At the heart of the dispute on the Songo Songo asset on the country’s south coast is the failure of the government to grant an extension to the production licence, despite years of attempts by Orca to break the impasse, as well as a rancourous dispute over what is known as ‘protected gas’.
As a result, two of Orca’s subsidiaries — PanAfrican Energy Tanzania (PAET) and PanAfrican Energy Corporation Mauritius — have issued a notice of dispute and financial claim under a bilateral investment treaty between Mauritius and Tanzania.
Separately, the Canadian junior is in dispute with Tanzania’s government and stateowned Tanzanian Petroleum Development Corporation (TPDC), claiming $1.2 billion over alleged breaches of the terms of Songo Songo’s production sharing agreement and gas agreement.
In 2001, Tanzania granted a development license to TPDC for Songo Songo for a 25-year term that ends on 10 October 2026.
The government needed foreign investment and technical assistance to develop the field, so struck a deal with PAET to help commercialise the discovery.
Denne historien er fra August 2024-utgaven av Offshore Africa.
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Denne historien er fra August 2024-utgaven av Offshore Africa.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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