{"id":7780,"date":"2019-09-24T13:42:21","date_gmt":"2019-09-24T13:42:21","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=7780"},"modified":"2019-09-24T13:42:46","modified_gmt":"2019-09-24T13:42:46","slug":"aminex-ara-accelerate-chikumba-1-well-drilling-operations","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/aminex-ara-accelerate-chikumba-1-well-drilling-operations\/","title":{"rendered":"Aminex, ARA Accelerate Chikumba 1 Well Drilling Operations"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Aminex has announced that all the\nconditions precedent within the control of Aminex and ARA Petroleum detailed in\nthe Ruvuma farm-out agreement have been satisfied. Aminex reports that together\nwith its partner ARA they have seen positive movements in Tanzania with the\ngovernment actively resolving several long-standing issues with other operators\nin country. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to the operator these positive movements provide confidence to the Company and ARA who are now prepared to further advance certain pre-drilling operations for the Chikumbi-1 well. The partners will hence advance works so that drilling of the well can commence as soon as practicable following the satisfaction of the remaining conditions precedent, which are the granting of the Mtwara licence extension and government approval for the transfer of interest and <a href=\"https:\/\/bit.ly\/2BocnPc\">operatorship<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;ARA is\nsuitably encouraged by the ongoing discussions with the Tanzanian authorities\nto accelerate the planning and preparation for the spud of Chikumbi-1.\nFurthermore, these advanced payments demonstrate a commitment to this excellent\nasset, which when on production will play an important role in meeting domestic\ndemand for gas from the people and businesses of Tanzania and a possible\ninternational market through export arrangements with neighbouring\ncountries.&nbsp; Alongside our partner ARA, we continue to work towards\ncompletion of the Ruvuma Farm-Out, and are proactively engaged with the\nTanzanian authorities to obtain the outstanding approvals and licence extension,&#8221;\nAminex Chairman John Bell commented.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Furthermore, Aminex\nadds:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Aminex and ARA have signed a binding heads of terms, whereby ARA\nhas agreed to provide a $3 million advance in instalments to the Company, ahead\nof Completion of the Farm-Out (&#8220;Advance&#8221;), which provides the Company\nwith financial flexibility pending Completion.&nbsp; The parties will agree and\nsign a fully termed agreement as soon as possible;<\/li><li>The Advance will be offset against the first tranche of the Cash\nConsideration payable to Aminex on&nbsp;Completion of the Farm-out;<\/li><li>The second tranche of the Cash Consideration of $2 million, which\nwas initially due to the Company 180 days after Completion, will now be payable\nto the Company upon Completion;<\/li><li>The Long Stop Date for Completion of the Farm-Out has been\nextended to 30 June 2020. While the Company and ARA do not expect to require\nthis extended period to satisfy the remaining conditions of the Farm-Out, this\ndemonstrates both parties&#8217; commitment to the transaction;<\/li><li>If Completion has not occurred by 30 June 2020, the Advance will\nconvert to an interest-bearing secured loan, repayable by 30 June 2021.<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;We are encouraged by the ongoing discussions with the Tanzanian authorities to be able to accelerate the planning for the early spud of the Chikumbi-1 well, through the tendering of services, ordering of long lead items and securing a contract for a drilling rig. \u00a0We are also happy to further demonstrate our commitment to the Ruvuma Farm-Out by bringing forward certain payments due to Aminex under the terms of the Farm-Out,&#8221; said ARA Petroleum LLC CEO Sultan Al-Ghaithi. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Aminex had earlier <a href=\"https:\/\/bit.ly\/2mPIBPD\">warned<\/a> that the deal risked falling out as the stop date neared and with no government approval in sight.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Aminex\nhas said it continues to await Tanzanian Government approval for Ruvuma\nFarm-Out to Oman based ARA Petroleum Tanzania Limited (APT) an affiliate\nof&nbsp;Eclipse Investments, the largest shareholder in Zubair Corporation post\nlong-stop date extension to 31 October 2019. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/aminex-ara-accelerate-chikumba-1-well-drilling-operations\/\" class=\"more-link\">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":[2466],"class_list":["post-7780","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-tanzania","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-21u","jetpack-related-posts":[{"id":9302,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tanzania-aminex-ara-petroleum-complete-ruvuma-farm-out\/","url_meta":{"origin":7780,"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 &quot;Countries&quot;","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":14761,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tanzania-award-of-the-epc-contract-for-the-ntorya-to-madimba-pipeline-expected-soon\/","url_meta":{"origin":7780,"position":1},"title":"TANZANIA: Award of the EPC Contract for the Ntorya to Madimba Pipeline Expected Soon","author":"","date":"March 18, 2025","format":false,"excerpt":"Aminex reports that the process for the award of the Ntorya to Madimba Pipeline EPC contract is almost complete and the company expects to receive further news from the TPDC shortly. This results from the\u00a0Tanzania Petroleum Development Corporation (TPDC) restrictive tender for the procurement of an engineering, procurement and construction\u2026","rel":"","context":"In &quot;Countries&quot;","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\/2025\/03\/Tanzania-Aminex-2.jpg?fit=885%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/03\/Tanzania-Aminex-2.jpg?fit=885%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/03\/Tanzania-Aminex-2.jpg?fit=885%2C1200&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/03\/Tanzania-Aminex-2.jpg?fit=885%2C1200&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":14289,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tanzania-aminex-releases-positive-outlook-terms-2024-as-decisive\/","url_meta":{"origin":7780,"position":2},"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 &quot;Countries&quot;","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":14314,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tanzania-aminex-provides-update-on-ntorya-to-madimba-pipeline\/","url_meta":{"origin":7780,"position":3},"title":"TANZANIA: Aminex Provides Update on Ntorya to Madimba Pipeline","author":"","date":"May 10, 2024","format":false,"excerpt":"Aminex has announce that during a recent operations meeting in\u00a0Muscat, Oman\u00a0with ARA Petroleum Tanzania (APT) and\u00a0Aminex, the\u00a0Tanzania Petroleum Development Corporation (TPDC)\u00a0updated the joint venture partners on its progress to construct a pipeline spur from Ntorya to the Madimba gas processing plant (the Pipeline). The TPDC told\u00a0Aminex\u00a0and APT that:\u00a0 \u25cf\u00a0\u00a0\u00a0\u00a0\u00a0It has\u2026","rel":"","context":"In &quot;Countries&quot;","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\/05\/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\/05\/Tanzania-Aminex.jpg?fit=885%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/05\/Tanzania-Aminex.jpg?fit=885%2C1200&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/05\/Tanzania-Aminex.jpg?fit=885%2C1200&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":8138,"url":"https:\/\/www.oilnewskenya.com\/index.php\/aminex-receives-12-month-extension-on-the-mtwara-licence\/","url_meta":{"origin":7780,"position":4},"title":"Aminex Receives 12 month Extension on the Mtwara Licence","author":"","date":"April 29, 2020","format":false,"excerpt":"Aminex has announced that it has formally received the extension of the Mtwara Licence from the Ministry of Energy of Tanzania; one of the last remaining conditions required to close the Farm-Out Agreement with ARA Petroleum Tanzania Limited which will see the Company carried for up to US$35 million of\u2026","rel":"","context":"In &quot;Eastern Africa&quot;","block_context":{"text":"Eastern Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/eastern-africa\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12616,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tanzania-half-of-seismic-data-now-acquired-over-the-ntorya-location\/","url_meta":{"origin":7780,"position":5},"title":"TANZANIA:  Half of Seismic Data Now Acquired over the Ntorya location, Ruvuma PSA","author":"","date":"September 5, 2022","format":false,"excerpt":"Aminex is pleased to announce that seismic and commercial activities on the Ruvuma PSC continue to progress under the direction of the operator, ARA Petroleum Tanzania Limited (APT): \u2022 Over half of the seismic data has now been acquired over the Ntorya location. \u2022 The seismic data required to evaluate\u2026","rel":"","context":"In &quot;Countries&quot;","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\/2017\/09\/Ntorya-development-license.png?fit=532%2C443&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/09\/Ntorya-development-license.png?fit=532%2C443&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/09\/Ntorya-development-license.png?fit=532%2C443&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\/7780","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=7780"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/7780\/revisions"}],"predecessor-version":[{"id":7781,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/7780\/revisions\/7781"}],"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=7780"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=7780"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=7780"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}