Exxon MobilÂ was reported on 7 June 2018 to be looking for a buyer for its stake in the deepwater Block 2.  Equinor (former Statoil ASA) is operating the tract with 65% interest. Exxon Mobil is the sole partner with the remaining 35% interest.  Background information  Statoil signed a Production Sharing Agreement (PSA) for Block 2 (11,100 sq km) on 18 April 2007. The 11-year exploration phase of the contract is subdivided into three periods (4-4-3). The initial exploration period involved the review of existing data, the acquisition of 5,800 km 2D seismic (3D was optional) and seabed logging over selected identified leads for a minimum investment of USD 10 million. Half of the acreage was relinquished upon renewal. The drilling of one exploration well is required in both extension periods. In case of a commercial discovery, the Tanzanian Petroleum Development Corporation (TPDC) has the right to participate in joint operations with a 10% participating interest. Statoil farmed out a 35% interest in the permit to ExxonMobil on 9 March 2010.
Exxon Mobil was reported on 7 June 2018 to be looking for a buyer for its stake in the deepwater Block 2. Equinor (former Statoil ASA) is operating the tract with 65% interest. Exxon Mobil is the sole partner with the remaining 35% interest. Background information Statoil signed a Production Sharing Agreement (PSA) for Block 2 (11,100 sq km) on 18 April 2007. 