{"id":8138,"date":"2020-04-29T07:47:08","date_gmt":"2020-04-29T07:47:08","guid":{"rendered":"http:\/\/oilnewskenya.com\/?p=8138"},"modified":"2020-06-08T09:58:31","modified_gmt":"2020-06-08T09:58:31","slug":"aminex-receives-12-month-extension-on-the-mtwara-licence","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/aminex-receives-12-month-extension-on-the-mtwara-licence\/","title":{"rendered":"Aminex Receives 12 month Extension on the Mtwara Licence"},"content":{"rendered":"

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<\/a> Tanzania Limited which will see the Company carried for up to US$35 million of its share of costs associated with the development of the Ntorya field, effectively carrying the Company through to material gas production in Tanzania.<\/p>\n

The extension, which was applied for in late 2017, is valid for one year. Under the terms of the extension the Company, through the Ruvuma PSA Joint Venture, is committed to perform the following works during the extension period:
\n\u2022 Acquire 200 square kilometres (surface coverage) of 3D seismic (min. expenditure of US$7 million)
\n\u2022 Drill the Chikumbi-1<\/a> exploration well (min. expenditure of US$15 million)
\n\u2022 Complete the negotiation of the Gas Terms for the Ruvuma PSA with the Tanzania Petroleum Development Corporation
\n\u2022 Using the data gathered from Chikumbi-1 and the seismic acquisition, prepare and submit an application for a Development Licence for the Ntorya Location area.<\/p>\n

Aminex adds that together its joint venture partners, will continue to prepare for this work programme, having already performed many pre-drilling and pre-seismic technical planning and contractual acquisition activities.<\/p>\n

Aminex acknowledges that the full work programme is unlikely to be completed during this extension period and the Company will therefore apply for an additional extension(s) as necessary and as permissible under the current legislation.<\/p>\n

John Bell, Chairman of Aminex commented:
\n\u201cWith this Licence extension granted, we now have line of sight towards the development of a nationally
\nimportant resource with the drilling of the Chikumbi-1 well. Furthermore, this well includes, as a primary
\nobjective, the exploration of promising deeper horizons. Fortunately, gas prices in Tanzania are not linked
\nto the price of crude oil and given the shortage of gas, demand is strong. We have long since believed in
\nthe value of this field to Tanzania and to the Aminex shareholders and are delighted, at long last, to once
\nagain be moving into the growth and operational phase that will further de-risk the 763 billion cubic feet
\nof 2C resources at the Ntorya field and propel the Company towards long-term sustainable cash flows.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

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 … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":0,"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":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7443,11],"tags":[137,6853,6284,2211,2466],"class_list":["post-8138","post","type-post","status-publish","format-standard","hentry","category-eastern-africa","category-top-news","tag-aminex","tag-chikumbi-1","tag-ntorya-field","tag-ruvuma-psa","tag-tanzania","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-27g","jetpack-related-posts":[{"id":4783,"url":"https:\/\/www.oilnewskenya.com\/index.php\/aminex-receives-one-year-extension-for-ruvuma-psa\/","url_meta":{"origin":8138,"position":0},"title":"Aminex Receives One Year Extension For Tanzania’s Ruvuma PSA","author":"","date":"June 27, 2016","format":false,"excerpt":"Aminex has announced that it has received a one-year extension for the Mtwara Licence of the Ruvuma Production Sharing Agreement after completing discussions with the Tanzanian Petroleum Development Corporation (TPDC) with the license due to expire late December 2016. TPDC is processing the extension for Ministerial approval and signature. Furthermore,\u2026","rel":"","context":"In \"Aminex\"","block_context":{"text":"Aminex","link":"https:\/\/www.oilnewskenya.com\/index.php\/tag\/aminex\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/ntorya-appraisal-area.jpg?fit=401%2C450&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":5315,"url":"https:\/\/www.oilnewskenya.com\/index.php\/ntorya-2-appraisal-well-in-tanzanias-ruvuma-psa-to-spud-in-december\/","url_meta":{"origin":8138,"position":1},"title":"Ntorya 2 Appraisal well in Tanzania\u2019s Ruvuma PSA to spud in December","author":"","date":"October 18, 2016","format":false,"excerpt":"The Ntorya-2 appraisal well in Tanzania\u2019s Ruvuma PSA is expected to spud in December 2016 according to block operator Aminex Plc with of well services having been contracted to date. Site preparations for the Ntorya-2 appraisal well have now been completed and mobilisation of the Caroil#2 rig from the Ntorya-1\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\/2016\/04\/Ntorya-Gross-Thickness-Map.png?fit=375%2C443&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":7299,"url":"https:\/\/www.oilnewskenya.com\/index.php\/sakson-awarded-contract-drill-chikumbi-1-well-tanzanias-ruvuma-psa\/","url_meta":{"origin":8138,"position":2},"title":"Sakson Awarded Contract to Drill the Chikumbi-1 Well in Tanzania\u2019s Ruvuma PSA","author":"","date":"December 17, 2018","format":false,"excerpt":"Aminex has advanced drilling and seismic programmes over the Ruvuma PSA acreage while it progresses satisfaction of conditions required to close out a farm-out agreement signed with the Zubair Group in early July 2018 according to its latest update. The Company has finalised the Chikumbi-1 executive drilling and completions programmes,\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\/02\/Aminex-Presentation.jpg?fit=954%2C594&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/02\/Aminex-Presentation.jpg?fit=954%2C594&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/02\/Aminex-Presentation.jpg?fit=954%2C594&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/02\/Aminex-Presentation.jpg?fit=954%2C594&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":8138,"position":3},"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":[]},{"id":7761,"url":"https:\/\/www.oilnewskenya.com\/index.php\/aminex-awaits-ara-petroleum-farm-out-approval-as-the-countdown-date-nears\/","url_meta":{"origin":8138,"position":4},"title":"AMINEX AWAITS ARA PETROLEUM FARM OUT APPROVAL AS THE COUNTDOWN DATE NEARS","author":"","date":"August 16, 2019","format":false,"excerpt":"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\u00a0Eclipse Investments, the largest shareholder in Zubair Corporation post long-stop date extension to 31 October 2019. 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