Petroleum Africa
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Wednesday, September 30, 2015
Solo Oil revealed in a statement that is assets in Tanzania represent its most significant investments and their further development “is being actively pursued.” The company has a 25% stake in the Ruvuma PSA and acquired a 6.5% interest in the Kiliwani North Development License (KNDL) in February 2015, with an option to purchase an additional 6.5% interest within 30 days of the signature of a gas sales agreement for the produced gas from the KNDL.
Solo’s key asset in the Ruvuma PSA is the Ntorya gas-condensate discovery, estimated to contain a gross 158 Bcf of proven gas in place. The partners on the Ruvuma PSA are planning to drill at least one appraisal well in order to firm up these resource volumes and to commence gas sales negotiations. Two appraisal well locations have been selected and final rig selection and associated contract discussions have commenced. It is anticipated that the first of these wells could be spud in late Q4 or Q1 2016.
The Kiliwani North-1 well in the KNDL was drilled by Aminex and its partners in 2008 and discovered gas in a 196 ft column in the Lower Cretaceous. Based on well test results Kiliwani North-1 is expected to be flowed at a rate of up to 30 Mmcf/d once on-stream. Negotiations have continued with the Tanzanian authorities on payment guarantees under the GSA and whilst the GSA remains unsigned significant progress has been made and another operator in the area has now signed a GSA with appropriate guarantees. In the interim the commissioning of the tie-in to the SongoSongo gas plant has progressed and once the GSA is signed physical gas can be flowed from KN-1.
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