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Friday, August 28, 2015
Aminex plc’s recent press release offered an update on its Tanzanian activities. The company commissioned a CPR from LR Senergy for its Tanzanian assets and this was completed in May. The Kiliwani North Development License and the Ntorya appraisal area were attributed 98 Bcf of gross contingent resources. Based on the interpreted 2014 2D seismic and this CPR, Aminex has identified an additional appraisal prospect at Ntorya. To assess it, a new vertical well is now planned, rather than a side-track from Ntorya-1 as previously reported. This should greatly increase the chances of successfully appraising the existing discovery, up-dip of the Ntorya-1 location, and potentially bringing on stream both the Ntorya-1 and Ntorya-2 wells earlier than previously anticipated.
Aminex has operated in Tanzania for over 13 years now and continues to work closely with the Tanzanian authorities. The immediate priority for both parties remains the start of gas production from the Kiliwani North Field through the new regional pipeline to Dar es Salaam. The Tanzanian authorities have advised that production should start within Q3 2015, now that the main pipeline has been pressure tested. The completion of a gas sales agreement (GSA) is subject to finalizing satisfactory payment protection guarantees and, following the recent start of production into the pipeline in the south of the country, the company said it believes that a GSA should be signed in time to achieve the near-term production timetable advised by TPDC.
Aminex reported that as a result of its share placing in June 2015, it has sufficient funding for the current level of operations.
The company saw its deferral of its current obligation to drill two wells on the Nyuni Area approved by the Ministry of Energy and Mines. Taken in conjunction with the previously granted approval to convert outstanding 2D seismic commitments to 3D seismic in the deep water sector, exploration of potentially sizeable offshore leads in deep water will now be viable. A re-tendering process is underway for the proposed new 3D seismic and tenders submitted will be subject to technical review. The deferral means that the joint venture will have until October 2019 to meet the work commitments of the First Extension Period. Aminex is seeking to retain a balance of deep and shallow water blocks for the subsequent work period.
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