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Tuesday, October 6, 2015
Tanzania’s state-run oil and gas firm TPDC has notified Aminex of its intention to acquire a 5% working interest in the Kiliwani North Development License (KNDL). TPDC will become a full working interest partner going forward.
Under the terms of the Nyuni East Songo-Songo PSA which governs the KNDL, TPDC has the right to acquire a 5% interest and it is this right which is now being exercised. The assignment of this working interest will be subject to TPDC reimbursing the JV partners with its proportionate share of development capital expenditure on the license to date and becoming a party to the KNDL JOA.
Once concluded, Aminex’s interest in the KNDL will become 55.575%.
The KNDL contains the Kiliwani North gas field which Aminex expects to produce initially at up to approximately 30 Mmcfd/s. Production from Kiliwani North will be a significant milestone for Aminex. The KN-1 well has now been tied into the main pipeline infrastructure and is awaiting completion of the adjacent Songo Songo processing plant. The company has been advised that this will be completed shortly and commissioning gas is to be produced thereafter.
Aminex CEO, Jay Bhattacherjee, commented: “We are pleased and encouraged to welcome TPDC as a working interest partner in Kiliwani North. By exercising this option, TPDC confirms the importance to Tanzania of gas from the Kiliwani North project and aligns its interests with those of the joint venture partners.”
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