EXPLORATION

Beach targets 'big oil' in Tanzania

BEACH Petroleum has executed a production sharing agreement with the Tanzanian government for a 100% interest in the Lake Tanganyika South concession and now plans to explore for world-scale oil fields along Africa's Great Rift Valley.

The concession, the only exploration lease currently active in the Rift region within Tanzania, is considered highly prospective for oil. Managing director Reg Nelson said the region was dotted with...

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