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Monday, September 4, 2017
Aminex plc reports its gas initially in place (GIIP)on its Ntorya appraisal area onshore Ruvuma Basin in Tanzania, has seen a material increase. The company has upgraded its unrisked resource estimates from 466 BcfPmean GIIP to approximately1.3 TcfPmean GIIP.
The company said that the update is based on its ongoing technical work which includes data from the successful Ntorya-2 appraisal welland subsequent re-evaluation of existing seismic, including reprocessing of select seismic lines and detailed review of Ruvuma PSAwell data.
These management estimates cover the Ntorya appraisal area only and do not include the potential of the adjoining exploration acreage. The company is in the process of engaging an independent third-party auditor to prepare an updated reserves and resource report.
Aminex is currently working with io oil & gas consultancy (a JV between Baker Hughesand McDermott) to prepare a gas commercialization plan which, together with submission of the Ntorya Field development plan to TPDC, is expected to be completed in early September.
Jay Bhattacherjee, CEO of Aminex, said, “The updated modelling, mapping and corresponding resource numbers continue to confirm that the Ruvuma Basin is of significant importance to Tanzania and the Company. We continue to work directly with the Tanzania Petroleum Development Corporation to create an optimal development plan so as to begin gas production from the license as quickly as possible.”
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