Aminex Submits Staged Development Plan for the Ntorya field in Tanzania

Aminex has announced that a Development Plan for the Ntorya field, located onshore in the Ruvuma Basin, Tanzania has been submitted to the Tanzania Petroleum Development Corporation (TPDC) for approval. The Development Plan is a key step towards obtaining a development licence and the commercializing of the resources from the Ntorya appraisal area which sits within the Ruvuma Basin.

The Development Plan, which incorporates the findings from io oil and gas consulting’s Gas  commercialization Study, is a comprehensive review of the existing data and includes the findings of recent mapping and the upgraded unrisked resource estimates threefold from earlier estimates of 466 BCF of approximately 1.3 TCF Pmean GIIP.

The Plan takes into account several options for gas monetisation including Compressed Natural Gas, Gas to Power and directly connecting the gas produced from the Ntorya field to the Madimba Plant in South Eastern Tanzania via an approximately 35 km spur line.

The Company has applied for a staged development of the field to allow for an early production system with existing wells and a programme that drills further development wells based on demand.

“Submission of the Ntorya field Development Plan is a major milestone for the Company as we progress towards unlocking the value across Ntorya and Ruvuma as a whole. The Company continues to work on further well plans in order to maximise development of the field and looks forward to updating shareholders in Q4 on the status of the Ntorya-3 well,” said CEO of Aminex, Jay Bhattacherjee.

The Development Plan is now subject to review by the Tanzanian authorities and the Company will provide an update on this and the timing for spudding the Ntorya-3 well during Q4 2017.