Tanzania Producer Appoints CEO

There have been two announcements relating to independent gas producers in Tanzania.

Wentworth Resources – the junior partner of Pertamina subsidiary Maurel & Prom in the Mnazi Bay small producing gas field – said January 15 it has appointed a new CEO. He is Eskil Jersing, who will join Wentworth in 2Q 2018 "as he undertakes an orderly transition from his current position as CEO of Sterling Energy." He worked for Shell, Marathon, Apache and Petrobras before joining Sterling in March 2015.  Loss-making Sterling's assets are now confined to Somaliland acreage and legacy assets offshore Mauritania, including a stake in the Chinguetti oilfield expected to be closed before too long.

Bob McBean, executive chairman of Wentworth said that Jersing is joining as the firm expands its production base in Tanzania and embarks on exploration just over the border in onshore Mozambique: "As indicated in November 2017, with the planned relocation of management to London, this is the right time for us to welcome a new, dynamic executive to the company."  Wentworth's CEO since 2010 Geoff Bury said two months ago that for personal reasons he is unable to relocate. A few days ago, Wentworth noted that demand for Mnazi Bay gas is picking up in the wake of a new power plant's commissioning.

The other news is that Songo Songo gas field's operator, Toronto-listed Orca Exploration, said January 12 it had agreed to extend the date by which certain escrow release conditions must be met in order to complete the up-to-$130mn equity investment by Tanzania-listed Swala in Orca; the extension is January 12 to midnight of January 17 2018. Swala's deal to buy into Orca was announced January 2.