Aminex PLC has reported that ARA Petroleum Tanzania (APT), the operator of the Ruvuma joint venture in Tanzania, has received a licence renewal from the Tanzanian Ministry of Energy under the Ruvuma Production Sharing Agreement (PSA). From August 15, 2021, the extension will be valid for two years.
The extension will allow the following tasks to be completed:
- Acquisition of 200 sq kms (surface coverage) of 3D seismic data
- Drilling of the Chikumbi-1 well
- Conclusion of negotiations of the Gas Terms for the Ruvuma PSA.
The Executive Chairman of Aminex, Charlie Santos, commented: “We are delighted to receive the extension to the licence and appreciate the Ministry of Energy’s steadfast support. We are also thankful for APT’s diligent efforts to secure the extension and look forward to updating shareholders on further progress in due course.”
The procurement process for 3D seismic acquisition is now complete, and APT is awaiting approval from Tanzanian authorities before issuing the seismic acquisition contract. The transaction is still expected to begin in the third quarter of 2021. Chikumbi-1 exploration and appraisal well drilling will begin in the third quarter of 2022.
Following APT’s technical work earlier this year, their revised mapping and internal management estimates suggest a mean risked gas in place (‘GIIP’) of 3,024 Bcf for the Ntorya accumulation in multiple lobes to be tested, as well as a mean risked recoverable gas resource of 1,990 Bcf, which will be assessed by the planned seismic and drilling programme.
Aminex is carried for its share of associated field development expenses up to US$35 million, equal to US$140 million in gross development expenditure, under the Farm-Out agreement agreed with APT in October 2021.
