TANZANIA- Ophir Energy, a Britain’s Oil Company, has agreed a 1.3 billion US dollar sale of a stake in Tanzanian gas fields, bringing in Singapore's Temasek Holdings to help fund a development project in the latest Asian investment in East Africa's gas sector.

CEOAFRICA.com gathered that the company would sell a 20 percent in Tanzanian Blocks 1, 3 and 4 to Pavilion Energy which belongs to Singapore State Investor Temasek, for a fee worth $ 1.25 billion plus a further contingency.

Ophir, whose shares soared 16 per cent after the announcement of the long-awaited deal, said last month a sale process was under way with Indian state-run gas company GAIL in the running as a potential buyer. The Tanzanian fields that Ophir discovered with its partner BG Group are its prize assets, estimated to hold 15 trillion cubic feet of gas.