TIDMOPHR

RNS Number : 1881O

Ophir Energy Plc

03 November 2016

3 November 2016

Ophir Energy plc

("Ophir")

Tanzania Drilling

Ophir notes the below press release issued by Shell, the operator of Blocks 1 and 4 in Tanzania, regarding the commencement of exploration drilling:

Shell and partners gear up to commence drilling programme in Tanzania

Shell and its joint venture partners, Pavilion Energy and Ophir Energy, announced today the start of its drilling programme covering two wells in Block 1 and 4, located in the Mafia Deep basin off Tanzania. The rig supporting the programme - the Noble Globe Trotter 2 - is expected to commence operations towards the end of October 2016 and will be drilling in waters up to 2300 metres deep.

The joint venture partners will be investing close to $80M into the well drilling programmes.

The two wells will meet the remaining exploration requirements as per the exploration licences issued by the Ministry of Energy and Minerals (MEM). Shell became the operator of the two blocks in February 2016, after its combination with BG Group, and has been working closely with the Tanzania Petroleum Development Corporation (TPDC) and MEM to deliver these wells safely.

The development of Blocks 1 and 4 is part of the Tanzania LNG project, which is a critical part of Tanzania's national energy policy under the umbrella of the Vision 2025.

Shell and its Block 1 and 4 partners are working with TPDC and other Block 2 partners on future development of Tanzania LNG. The project is being developed at a time of great industry change and historic low oil prices. In the current investment climate, there is a critical need to have strong project fundamentals, including government support and cooperation.

-Ends-

For further enquiries please contact:

Ophir Energy plc + 44 (0)20 7811 2400

   Nick Cooper       Chief Executive Officer 
   Tony Rouse        Chief Financial Officer 
   Geoff Callow     Head of Investor Relations

Brunswick Group + 44 (0)20 7404 5959

Patrick Handley

Wendel Verbeek

This information is provided by RNS

The company news service from the London Stock Exchange

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November 03, 2016 03:00 ET (07:00 GMT)

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