The Tanzanian government has given the green light for Octant Energy Tanzania to take the lead in oil and gas exploration activities in the Tanga block, as reported by Upstream Online on Monday.

In this arrangement, the Canadian exploration and production (E&P) company will secure a 74% interest in the block, while Petrodel Resources will retain the remaining shares.

Previously held by Afren Tanzania, which underwent liquidation in 2015 due to insolvency, the Tanga block’s license is currently in its final three-year period. The new partners plan to reprocess 3D seismic data dating back to 2013, aiming to reassess the commercial potential of the play.

Situated in northern Tanzania, the Tanga block encompasses both onshore and offshore areas. Petrodel Resources highlights the block’s potential in various geological formations, including Lower Cretaceous sands, Upper Cretaceous submarine fans, Eocene shelf sands, and Miocene fluvial and deltaic sands.

Petrodel assumed control of the license in 2006, jointly managing it with the local Latham and Kimbiji blocks. This development signifies a significant step forward in energizing Tanzania’s oil and gas sector.