Aminex Provides Q3 of 2012 IMS for Tanzanian Projects

Source: www.gulfoilandgas.com 11/19/2012, Location: Africa

Aminex PLC, an independent oil company listed on the main market of the London and Irish Stock Exchanges with exploration and development assets in the emerging hydrocarbon province of East Africa, issues its Interim Management Statement (IMS) for the period 1 July to the date of this statement.

Early in the reporting period Aminex published the results of an independent technical evaluation of the Ruvuma and Nyuni Area PSAs. The study attributed 11.4 TCF total discovered and undiscovered mean Gas Initially in Place (GIIP) for the two licences combined, with 5.75 TCF attributed to the Ruvuma PSA and 5.67 TCF to the Nyuni Area PSA. The total 11.4 TCF estimate represents the equivalent of 1.9 billion barrels of oil (BOE).

Concurrently, the Tanzanian government announced the launch of construction of a 36” diameter pipeline which will pass through the Ruvuma PSA, the site of the Company’s Ntorya-1 discovery, to Dar es Salaam with a 24” diameter spur line to Songo-Songo Island where Aminex and partners have a development licence for the 45 BCF Kiliwani North discovery. The new pipeline and associated gas processing facilities are expected to be commissioned in the first half of 2014 and will provide a direct route to market for gas from Aminex’s two discoveries.

Ruvuma PSA

Following the Ntorya-1 gas discovery at Ruvuma in the first half of the year, Aminex and its partner have applied for an appraisal licence over nine blocks and negotiations are being held with the Tanzanian authorities. The Ntorya discovery is estimated to have 1.17 TCF (195 MMBOE) potential and in testing flowed 20 MMSCFD of natural gas (3,350 BOEPD) together with 139 BOPD of 53 degree API condensate. An independent technical review of the Ruvuma PSA attributes over 5.75 TCF (970 MMBOE) of discovered and undiscovered GIIP across multiple prospects including the Ntorya discovery. Over the course of the next two years, Aminex plans to drill three wells at Ruvuma: two exploration wells and an appraisal well at Ntorya.

In order to prioritise exploration and appraisal drilling locations and to optimise acreage relinquishment, an extensive seismic programme is being undertaken onshore. A letter of intent has been signed with the seismic contractor to acquire 890 kilometres of 2D seismic across the four most important leads: Ntorya-1 and Ntorya Updip (1.17 TCF mean discovered and undiscovered GIIP), Namesange (2.6 TCF mean undiscovered GIIP) and Sudi (426 BCF mean undiscovered GIIP). The total cost of the seismic programme is estimated at $13 million.

Aminex currently has a 75% operating interest in the Ruvuma PSA and has announced a process to farm down its interest in the block to a targeted 37.5%. FirstEnergy has been engaged to manage this process. Marketing materials have been sent to targeted companies and a data room is scheduled to open this week to interested parties. There has been significant interest in the farm out expressed by a diverse array of international companies. Aminex expects to complete the farm out in the first half of 2013.

Nyuni Area PSA

The Nyuni Area PSA, signed in October 2011, comprises onshore, transition zone and deep water acreage. The deep-water area in the eastern portion of the block accounts for approximately 30% of the PSA. Over 5.6 TCF of undiscovered GIIP has been attributed to structural and stratigraphic leads in the Nyuni Area PSA.

Aminex is currently planning a 1,200 kilometre 2D seismic program in the deep water of the Nyuni block and is in discussions with seismic vessel providers to conduct the survey in the first quarter of 2013.

Earlier this year Aminex completed 141 kilometres of seismic data as part of a transition zone seismic programme over the shallow waters, reefs and islands of the Nyuni Area PSA. Transition zone seismic operations were suspended in late June due to rough seas. Aminex is currently evaluating options to complete the transition zone seismic in conjunction with the deep-water programme, which should result in cost savings.

Kiliwani North Development Licence

Aminex held talks with the Tanzanian state oil company in early November regarding the technical engineering design for tying in Aminex’s Kiliwani North-1 (KN-1) gas well to the planned gas processing facility on Songo-Songo Island and pipeline to Dar es Salaam. Aminex had previously completed the engineering design for the local 6” pipeline connecting KN-1 to the existing local gas processing facility and the 6” pipe has already been purchased and delivered to Tanzania. Only minor adjustments to the design will be required to enable the tie in to the new gas processing facility.

The new Songo-Songo gas processing facility and pipeline are now expected to be commissioned and put into operation in the first half of 2014, providing Aminex with a route to monetisation of KN-1 gas. Kiliwani North holds discovered mean GIIP of 45 BCF and the tie-in is designed to handle an optimum production level of 20 MMCFD.


Egypt >>  6/27/2022 - Engineer Tarek El Molla, Minister of Petroleum and Mineral Resources, discussed with Roger Planck, Chairman of the Board of Directors of the American ...
Mongolia >>  6/27/2022 - The AIM-listed Mongolian oil explorer Petro Matad Limited ("Petro Matad" ) releases its audited final results for the fiscal year that ended on Decemb...

Uruguay >>  6/27/2022 - With assets in oil production, appraisal, development, and exploration across the region, Challenger Energy (CEG), an oil and gas company with a focus...
Colombia >>  6/24/2022 - ONGC Videsh Limited (OVL), the wholly owned subsidiary and overseas arm of Oil and Natural Gas Corporation Ltd. (ONGC), the National Oil Company of In...

Indonesia >>  6/24/2022 - A Production Sharing Contract (PSC) has been signed with PETRONAS North Ketapang Sdn. Bhd., a subsidiary of PETRONAS, for the North Ketapang Block, wh...
Namibia >>  6/22/2022 - Global Petroleum Limited provides an update on its operations in Namibia and Italy.

Namibia
On 25 April 2022 the Company announced th...


Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.