Exploration & Production
Orca Exploration Sees Complications in Tanzania
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Orca Exploration Group Inc. has announced its results for the year ended 31 December 2013.
Orca operated its Tanzania Songo Songo gas field in 2013 at near plant and pipeline capacity generating record results from production operations. Additional Gas sales volumes increased 9% over 2012 to average 61.5 MMcfd. Overall production of Protected Gas and Additional Gas was essentially flat over 2012 at 96.3 MMcfd (2012: 95.8 MMcfd) and current average production is approximately 94 MMcfd. The situation with respect to the outstanding accounts receivable from TANESCO is increasingly urgent. In the event that the Company does not collect from TANESCO the balance of the receivables and TANESCO continues to be unable to pay the Company for subsequent gas deliveries, the Company will need…Finish this article — free account or subscription
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