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Tuesday, June 7, 2016
Aminex provided an update on gas production from its Kiliwani North Development License in Tanzania. All gas produced during the build-up to full production rates will be paid for under the terms of the agreed GSA signed with TPDC. Aminex will receive $3.00 per mmbtu.
The gas price is not linked to any commodity price so importantly is unaffected by current commodity market conditions. The gas delivery point is at the outlet flange of the Kiliwani North wellhead and, by selling the gas at the wellhead, the joint venture partners will not be liable for pipeline transportation and processing fees.
Initial production rates remain carefully managed to allow for testing and commissioning of the gas processing plant and pipeline, while recording critical pressure and flow rate measurements to determine the optimal flow rate to maximize the life of the reservoir.
Together with TPDC the company plans to conduct a well test during the production build up to determine the optimal flow rate. It is this optimal flow rate that will become the commercial production rate and Aminex intends to flow gas at this rate for as long as possible prior to a natural decline in production.
Based off initial pressure response from the Kiliwani North 1 well it is expected that the well will be tested closer to 30 Mmcf/d.
Jay Bhattacherjee, CEO commented: “We are pleased with the progress made so far at Kiliwani. The well has been performing very well and commissioning is so far on schedule. The Company continues to focus on delivering production growth through Kiliwani and driving its appraisal and eventual development program at Ruvuma.”
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