Aminex \u00a0has notified shareholders that the Tanzanian authorities have agreed to the deferral of a two well drilling commitment on the Nyuni Area PSA, which was due to be completed by the end of October 2015, into the four-year First Extension which expires October 2019.<\/p>\n
The deferral is conditional on an Environmental Impact Assessment, which has already commenced, and the eventual acquisition of 3D in the deep water which will be subject to completion of a tendering process.<\/p>\n
4The Nyuni Area licence covers onshore, transition zone, offshore continental shelf and deep water acreage with previous exploration on the Licence area having concentrated on the shelf and included the Kiliwani North-1 gas discovery which is due to start commercial production into new gas infrastructure in the first half of the year.<\/p>\n
According to Aminex CEO Jay Bhattacherjee the extension will enable the explorer understand data from a new 3D seismic over the block.<\/p>\n
\u201cWith significant gas discoveries made offshore Tanzania in the last few years, new 3D seismic over Nyuni Area should enable Aminex and its partners to unlock the potential of the Licence and allow the Company to continue to focus primarily on its stated strategy of production and development through Kiliwani North-1 and Ruvuma respectively,\u201d says Bhattacherjee.<\/p>\n
The Nyuni PSA surrounds the Kiliwani North discovery which is expected onstream in mid 2015 and is estimated to hold 5.7TCF.<\/p>\n
\u201cAminex is grateful for the support of the Tanzanian authorities for the variation of the work programme through the deferral of well obligations to enable exploration on the deep water sector of the licence.\u201d<\/p>\n
Ndovu the Tanzanian Aminex subsidiary is the operator in the block with 70 percent interest. Other partners include RAK Gas Commission 25 percent and\u00a0Bounty Oil and Gas NL 5 percent.<\/p>\n","protected":false},"excerpt":{"rendered":"