The survey is a vital part of exploring for oil and gas. It is a method of investigating subterranean structure, particularly as related to exploration for petroleum, natural gas, and mineral deposits.
This comes after Swala's Initial Public Offer (IPO) was over subscribed by 38%. Swala raised Tsh6.64 billion (about $4 million) from the public.
The seismic survey program will be performed by Polaris Seismic Tanzania Limited, a subsidiary of Polaris International, the company that carried out a similar survey for Swala in 2013 covering part of the same licenses, the Chief Executive Officer of Swala, Dr. David Mestres Ridge said.
He said Swala and its Joint Venture partner Otto Energy will acquire approximately 200km of 2D seismic data over the basin in the next four weeks and that data will be processed as the survey progresses.
"This seismic survey is being undertaken as a follow-up to the successful program carried out in the licence in 2013 where results indicated at least one sedimentary basin of about 3,000m in thickness," he said.
"The purpose of this new survey is to build on the joint venture's understanding of that basin and firm up structural leads that can then be targeted for drilling activities in 2015," he said.
According to him, once the survey in the Moshi basin is complete the seismic operations will move to the Kilombero basin where a further 430km of 2D data acquisition will be conducted.
"The commencement of our 2014 seismic data acquisition program underlines Swala's commitment and capability to move ahead quickly with our exploration program," he said.
He said the work is intended to firm up potential drilling targets for a planned 2015 drilling campaign. Tanzania has some of the largest gas reserves in Africa.
Daily News
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