{"id":3873,"date":"2015-10-05T07:34:46","date_gmt":"2015-10-05T07:34:46","guid":{"rendered":"http:\/\/www.oilnewskenya.com\/?p=3873"},"modified":"2015-10-06T08:10:28","modified_gmt":"2015-10-06T08:10:28","slug":"tpdc-to-acquire-5-interest-in-the-kiliwani-north-license","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/tpdc-to-acquire-5-interest-in-the-kiliwani-north-license\/","title":{"rendered":"TPDC to acquire 5% interest in the Kiliwani North License"},"content":{"rendered":"

Aminex has said that the Tanzania Petroleum Development Corporation (TPDC) has notified the Company of its intention to acquire a 5% working interest in the Kiliwani North Development (KNDL) and will become a full working interest partner going forward.<\/p>\n

\"Nyuni<\/a>Under the terms of the Nyuni East Songo-Songo Production Sharing Agreement which governs the KNDL, TPDC has the right to acquire a 5% interest and it is this right which is now being exercised.<\/p>\n

The assignment of this working interest will be subject to TPDC:<\/p>\n

    \n
  1. reimbursing the Joint Venture Partners with TPDC\u2019s proportionate share of development capital expenditure on the licence to date; and<\/li>\n
  2. becoming a party to the KNDL Joint Operating Agreement.<\/li>\n<\/ol>\n

    We are pleased and encouraged to welcome TPDC as a working interest partner in Kiliwani North. By exercising this option, TPDC confirms the importance to Tanzania of gas from the Kiliwani North project and aligns its interests with those of the joint venture partners,\u201d says Aminex CEO, Jay Bhattacherjee.<\/p>\n

    Once concluded, Aminex\u2019s interest in the KNDL will become 55.575% (current interest 58.5%).<\/p>\n

    The KNDL contains the Kiliwani North gas field which the Company expects to produce initially at up to approximately 30 mmcfd. Production from Kiliwani North will be a significant milestone for Aminex.<\/p>\n

    The KN-1 well has now been tied into the main pipeline infrastructure and is awaiting completion of the adjacent Songo Songo processing plant.<\/p>\n

    Aminex adds it has been advised that this will be completed shortly and commissioning gas is to be produced thereafter.<\/p>\n

    The partners who also consist of Ndovu Resources Ltd (Aminex) 58.5% (operator),\u00a0Solo Oil<\/a>\u00a06.5%,\u00a0RAK Gas LLC 25%, and Bounty Oil & Gas NL 10% are still waiting the signing of the Gas Sales Agreement although terms have been largely completed for some time with the final payment protection terms yet to be agreed on to enable the GSA to be signed.<\/p>\n

    Solo holds an option to increase its interest in the KNDL by 6.5% to a total of 13% once the GSA is signed for a further payment of US$3.5 million to Aminex. This option will also be subject to TPDC back-in once concluded. Following TPDC back-in Solo would then hold a 12.35% working interest in the Licence while Bounty\u2019s interest in the KNDL will become 9.5% (current interest 10.0%).<\/p>\n

    \n","protected":false},"excerpt":{"rendered":"

    Aminex has said that the Tanzania Petroleum Development Corporation (TPDC) has notified the Company of its intention to acquire a 5% working interest in the Kiliwani North Development (KNDL) and … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":1913,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[11],"tags":[137,3675,3673,3527,2958,3674,2365,2466,2472,2543],"class_list":["post-3873","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-aminex","tag-bounty-oil-gas-nl","tag-kiliwani-north-license","tag-ndovu-resources","tag-nyuni-psa","tag-rak-gas-llc","tag-songo-songo","tag-tanzania","tag-tanzania-petroleum-development-corporation","tag-tpdc","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/10\/kiliwani-north.jpg?fit=498%2C565&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-10t","jetpack-related-posts":[{"id":2577,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tanzania-draws-closer-gas-production-kiliwani-north-1-well\/","url_meta":{"origin":3873,"position":0},"title":"Tanzania draws closer to gas production from the Kiliwani North 1 well","author":"","date":"February 19, 2015","format":false,"excerpt":"Aminex has notified shareholders that the Tanzanian Petroleum Development Corporation (TPDC), through its contractors, has now begun constructing the Skid Metering Unit within the boundaries of the Kiliwani North Development Licence (KNDL) and have completed laying pipe to the KNDL boundary. Once construction is complete the Kiliwani North 1 well\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/10\/kiliwani-north.jpg?fit=498%2C565&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":4539,"url":"https:\/\/www.oilnewskenya.com\/index.php\/solo-oil-signs-spa-to-increase-interest-at-kiliwani-north-license\/","url_meta":{"origin":3873,"position":1},"title":"Solo Oil Signs SPA to Increase Interest at Kiliwani North License","author":"","date":"April 4, 2016","format":false,"excerpt":"Solo Oil has announced that further to the agreements previously announced with Aminex plc to acquire a further interest in the Kiliwani North Development Licence (KNDL) the company has now\u00a0executed a Sale and Purchase Agreement (SPA) for the acquisition of a 3.825% interest for a total cash consideration of\u00a0US$2.16 million.\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/10\/Kiliwani-North-2.png?fit=313%2C402&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":11004,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tanzania-aminex-reaches-agreement-with-tpdc-for-past-gas-sales\/","url_meta":{"origin":3873,"position":2},"title":"TANZANIA: Aminex Reaches Agreement with TPDC for Past Gas Sales","author":"","date":"October 18, 2021","format":false,"excerpt":"Aminex has announced that it has reached an agreement with the Tanzania Petroleum Development Corporation (TPDC) for the payment of outstanding monies owed for past gas sales to the TPDC, resulting in a net cash inflow to the Company of approximately US$1.85 million. Aminex and the TPDC have been engaged\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/10\/Tanzania-Aminex.png?fit=443%2C537&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":4496,"url":"https:\/\/www.oilnewskenya.com\/index.php\/commissioning-of-tanzanias-songo-songo-island-gas-set-for-april-2016\/","url_meta":{"origin":3873,"position":3},"title":"Commissioning of Tanzania\u2019s Songo Songo Island gas plant Set for April 2016","author":"","date":"March 15, 2016","format":false,"excerpt":"The Tanzania Petroleum Development Corporation (TPDC) has provided a revised work schedule in the \u00a0Kiliwani North license and informed the operator Aminex that the commissioning of the Songo Songo Island gas plant is expected to commence in early April. Aminex which concluded the final well integrity testing of the Kiliwani\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/11\/kiliwani-north-1-well.png?fit=493%2C556&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":4343,"url":"https:\/\/www.oilnewskenya.com\/index.php\/solo-oil-invests-additional-equity-in-kiliwani-north-tanzania\/","url_meta":{"origin":3873,"position":4},"title":"Solo Oil Invests Additional Equity in Kiliwani North, Tanzania","author":"","date":"February 11, 2016","format":false,"excerpt":"Solo Oil has announced that it has acquired a further interest in the Kiliwani North Development Licence from concession operator Aminex to reach 10% from the current 6.175% interest in the KNDL where the Kiliwani North-1 well is located and will pay Aminex US$2.16 million. The increase in ownership follows\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/solo-oil.jpg?fit=320%2C320&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":2393,"url":"https:\/\/www.oilnewskenya.com\/index.php\/solo-acquires-kiliwani-north-development-licence-in-tanzania\/","url_meta":{"origin":3873,"position":5},"title":"Solo acquires Kiliwani North Development Licence in Tanzania","author":"Samuel Kamau Mbote","date":"February 3, 2015","format":false,"excerpt":"[twitter-follow screen_name='oilnewskenya'] Solo has announced it has now signed the Asset Purchase Agreement with Aminex plc for the first 6.5% interest in the Kiliwani North Development Licence (KNDL) at a total consideration of US$3,500,000. The announcement \u00a0follows prior statements in October and December last year where the company said it\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/10\/kiliwani-north.jpg?fit=498%2C565&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/3873","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=3873"}],"version-history":[{"count":4,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/3873\/revisions"}],"predecessor-version":[{"id":3878,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/3873\/revisions\/3878"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/1913"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=3873"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=3873"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=3873"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}