full field development<\/a>\nproject. In the\nevent that the minimum production target of 40 MMcf\/d is achieved prior to\nAminex\u2019s 25% interest having been carried for the full $35 million the\nagreement shows that APT will assign one quarter of its share of profit gas to\npay the unspent Carry amount until the full $35 million is realized by Aminex.<\/p>\n\n\n\n\u201cWe have cut costs to appropriate levels and we are awaiting Tanzanian Government approval to move forward with the Ruvuma farm-out to ARA Petroleum of Oman, which upon completion will deliver a $5m cash inflow and a $35 million carry through the further appraisal and development of the Ntorya gas-field. In the meantime, progress is being made at Kiliwani,\u201d Aminex Chairman John Bell said. <\/p>\n\n\n\n
The approval is also key to gain an extension of the Mtwara Licence and transfer of the interest and operatorship of the PSA.<\/p>\n\n\n\n
The company adds it has continued with its commitment to reduce its General and Administration (G&A) expenses, particularly given the delays in completion of the Ruvuma Farm-Out. On a like-for-like basis, the current monthly G&A expense for the Group has been reduced by approximately 34% from 2018 levels.\u00a0<\/p>\n\n\n\n
Meanwhile in Kiliwani\nNorth Aminex says the reprocessing of the select 2D seismic lines over the\nKiliwani North Development Licence acreage is complete with minor re-iterations\nrequested from the processor. The company adds that data from the reprocessing\nwill benefit the design of a 3D seismic survey and remapping of the licence,\nusing the reprocessed lines, will occur once it has received the final data. <\/p>\n\n\n\n
The Company\ncontinues to source equipment to perform the reentry and remedial work on\nKiliwani North-1. The re-entry, which has been designed to be carried out at\nminimal costs, is of value to investigate fluid levels in the well and provide\nan accurate bottom hole pressure measurement which will provide useful\nreservoir data for future operations and production and equipment is being\nordered. <\/p>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Aminex has said it continues to await Tanzanian Government approval for Ruvuma Farm-Out to Oman based ARA Petroleum Tanzania Limited (APT) an affiliate of Eclipse Investments, the largest shareholder in Zubair … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":7118,"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":[1],"tags":[7201,874,1321],"class_list":["post-7761","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-ara-petroleum-tanzania-limited-apt","tag-farmout","tag-kiliwani-north","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/07\/Ruvuma-PSA.jpg?fit=535%2C694&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-21b","jetpack-related-posts":[{"id":9302,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tanzania-aminex-ara-petroleum-complete-ruvuma-farm-out\/","url_meta":{"origin":7761,"position":0},"title":"TANZANIA: Aminex, ARA Petroleum Complete Ruvuma Farm-out","author":"","date":"October 23, 2020","format":false,"excerpt":"Aminex has announced the Completion of the Ruvuma Farm-Out. The Company, through its wholly owned subsidiary, Ndovu Resources Limited, has transferred a 50% interest in, and operatorship of, the Ruvuma PSA to ARA Petroleum Tanzania Limited (APT). Aminex had earlier has borrowed US$3 million (advance) and received a loan of\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\/2018\/07\/Ruvuma-PSA.jpg?fit=535%2C694&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/07\/Ruvuma-PSA.jpg?fit=535%2C694&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/07\/Ruvuma-PSA.jpg?fit=535%2C694&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":7117,"url":"https:\/\/www.oilnewskenya.com\/index.php\/ara-petroleum-tanzania-takes-operatorship-ruvuma-psa-following-farm\/","url_meta":{"origin":7761,"position":1},"title":"ARA Petroleum Tanzania Takes Over Operatorship of Ruvuma PSA following Farm-Out","author":"","date":"July 11, 2018","format":false,"excerpt":"ARA Petroleum Tanzania an affiliate of\u00a0Eclipse Investments, the largest shareholder in Zubair Corporation will take over operatorship of the Ruvuma PSA after Ndovu Resources signed a binding farm-out agreement with\u00a0the Zubair Corporation. According to Aminex which wholly-owns subsidiary\u00a0Ndovu Resources following the farm-out it is intended that the Farm-Out will accelerate\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\/2018\/07\/Ruvuma-PSA.jpg?fit=535%2C694&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/07\/Ruvuma-PSA.jpg?fit=535%2C694&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/07\/Ruvuma-PSA.jpg?fit=535%2C694&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":7780,"url":"https:\/\/www.oilnewskenya.com\/index.php\/aminex-ara-accelerate-chikumba-1-well-drilling-operations\/","url_meta":{"origin":7761,"position":2},"title":"Aminex, ARA Accelerate Chikumba 1 Well Drilling Operations","author":"","date":"September 24, 2019","format":false,"excerpt":"Aminex has announced that all the conditions precedent within the control of Aminex and ARA Petroleum detailed in the Ruvuma farm-out agreement have been satisfied. Aminex reports that together with its partner ARA they have seen positive movements in Tanzania with the government actively resolving several long-standing issues with other\u2026","rel":"","context":"In \"Tanzania\"","block_context":{"text":"Tanzania","link":"https:\/\/www.oilnewskenya.com\/index.php\/tag\/tanzania\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/07\/Ruvuma-PSA.jpg?fit=535%2C694&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/07\/Ruvuma-PSA.jpg?fit=535%2C694&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/07\/Ruvuma-PSA.jpg?fit=535%2C694&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":9284,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tanzania-aminex-receives-government-approval-for-ruvuma-farm-out\/","url_meta":{"origin":7761,"position":3},"title":"TANZANIA: Aminex Receives Government Approval For Ruvuma Farm-Out","author":"","date":"October 13, 2020","format":false,"excerpt":"Aminexhas announcde that its wholly owned subsidiary, Ndovu Resources Limited, has received approval from the Tanzanian Government for the transfer of a 50% interest in, and operatorship of, the Ruvuma PSA to ARA Petroleum Tanzania Limited (\u201cAPT\u201d). With receipt of such approval, the Company anticipates completion of the Farm-Out within\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\/2018\/07\/Ruvuma-PSA.jpg?fit=535%2C694&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/07\/Ruvuma-PSA.jpg?fit=535%2C694&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/07\/Ruvuma-PSA.jpg?fit=535%2C694&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":14289,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tanzania-aminex-releases-positive-outlook-terms-2024-as-decisive\/","url_meta":{"origin":7761,"position":4},"title":"TANZANIA: Aminex Releases Positive Outlook Terms 2024 as Decisive","author":"","date":"April 29, 2024","format":false,"excerpt":"Outlook: \u2022\u00a0\u00a0\u00a0\u00a0\u00a0The operator of the Ruvuma PSA,\u00a0ARA Petroleum Tanzania Limited\u00a0(APT) continues to progress operations at the Ntorya gas field, with the following planned for 2024, upon receipt of the Development Licence: o\u00a0\u00a0Contract a rig operator to undertake the drilling of the Chikumbi-1 appraisal well and, if successful, to complete the\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\/2024\/04\/Tanzania-Aminex.jpg?fit=885%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/04\/Tanzania-Aminex.jpg?fit=885%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/04\/Tanzania-Aminex.jpg?fit=885%2C1200&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/04\/Tanzania-Aminex.jpg?fit=885%2C1200&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":10776,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tanzania-apt-receives-2-years-extension-of-ruvuma-licence\/","url_meta":{"origin":7761,"position":5},"title":"TANZANIA: APT Receives 2 Years Extension of Ruvuma Licence","author":"","date":"August 19, 2021","format":false,"excerpt":"The operator, ARA Petroleum Tanzania Limited (APT) has secured the extension for the Ruvuma PSA from the Ministry of Energy of Tanzania, which is valid for two years from 15 August 2021, and allows for the completion of the following: \u2022 Acquisition of 200 square kilometres (surface coverage) of 3D\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\/2018\/07\/Ruvuma-PSA.jpg?fit=535%2C694&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/07\/Ruvuma-PSA.jpg?fit=535%2C694&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/07\/Ruvuma-PSA.jpg?fit=535%2C694&ssl=1&resize=525%2C300 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/7761","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=7761"}],"version-history":[{"count":2,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/7761\/revisions"}],"predecessor-version":[{"id":7763,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/7761\/revisions\/7763"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/7118"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=7761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=7761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=7761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}