Petroleum Africa
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Friday, August 21, 2015
Wentworth Resources and Maurel et Prom plc saw first delivery of gas to the new transnational pipeline in Tanzania. Gas deliveries began on August 20 from the Mnazi Bay gas fields. Two wells are now producing and the remaining three wells will be put on production in the coming months.
Initial production volumes will be used for commissioning purposes and to fill the pipeline. Production rates are expected to increase to 70 Mmscf/d by October and reach 80 Mmscf/d by the end of the year. Gas deliveries by TPDC for use by power and industrial companies are expected to commence in October.
The partners will receive payment at the end of each calendar month for sales volumes delivered during that period. Under the gas sales agreement signed September 2014, the sale price has been set at $3.00 per million BTU, or around $3.07 per thousand cubic feet, rising in line with the US CPI industrial index.
The partners have agreed payment security terms with TPDC, the buyer of the gas, and various other parties. The payment security provides them with sufficient assurance that sales of natural gas will be settled in accordance with the agreed payment terms.
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