Tanzania, April 13 -- Dar es Salaam. In a significant shift for Tanzania's energy sector, Orca Energy Group Inc. has agreed to divest its entire Tanzanian business, transferring control of the historic Songo Songo gas project to a consortium led by Taifa Gas Tanzania Limited and Amber Energy Investment L.L.C-FZ.

The agreement will see Taifa acquire a 49 percent stake and Amber take 51 percent of PAE PanAfrican Energy Corporation, Orca's holding company for its Tanzanian assets. The transaction, priced at a nominal $10, marks the end of Orca's long-standing involvement in the country's natural gas industry.

Orca's Board said the decision follows a lengthy review of operational risks, ongoing disputes, and uncertainty surrounding the exte...