Africa-focused British oil explorer Ophir Energy <OPHR.L> said on Thursday it had agreed to sell a 20 percent stake in part of its gas fields in Tanzania to Pavilion Energy for $1.3 billion.
The company said in October that it was in the process of trying to sell parts of its stakes in big gas fields off the coast of Tanzania with Indian state-run gas company GAIL <GAIL.NS> in the running as a potential buyer.
The Tanzanian fields that Ophir discovered with its partner BG Group <BG.L>, estimated to hold 15 trillion cubic feet of gas, are its prize assets.
On Thursday it said it would sell a 20 percent interest in Tanzanian Blocks 1, 3 and 4.
Pavilion Energy is owned by Singapore state investor Temasek Holdings.
