LONDON (dpa-AFX) - Heritage Oil Plc (HOIL.L) said it has been awarded a further Production Sharing Agreement, or PSA, in Tanzania. Heritage is the operator with 100% interest. The Kyela PSA, wholly located within Tanzanian territory, has an area of 1,934 square kilometres and covers the northern onshore area of the Lake Nyasa Basin. Heritage Oil noted that gravity data and seismic data from the adjacent Lake Nyasa suggest the presence of a thick sedimentary section with the potential to generate oil. The work programme will begin shortly with the acquisition of a c.1,500 square kilometre high resolution gravity survey followed by the acquisition of 2D seismic, the company added.
Copyright RTT News/dpa-AFX
