Aminex on track for Tanzania development

LONDON, March 8, 2017 – London-listed independent Aminex on Wednesday said it is confident it can commence development work in Tanzania’s Ruvuma Basin.

The announcement followed the conclusion of the Ntorya-2 appraisal well tests, which had “substantially exceeded” company expectations. During drilling, the well encountered a 51-metre gas-bearing reservoir section at a drilling depth of 2,953 metres. It flowed 2,833 boepd during tests.

“According to wireline logs, Ntorya-2 encountered the equivalent reservoir section at approximately 74 metres higher than in the Ntorya-1 well,” Aminex said in a press release. Due to the absence of formation water, the company concluded that area between Ntorya-1 and Ntorya-2 held “a significant volume of gas in place.”

Commenting on the results, Aminex CEO Jay Bhattacherjee said the company now had “the potential for a commercial development project in the Ruvuma Basin.”

“Despite the measures we had to take to control the well during drilling, due to a large gas influx in the reservoir section, the Ntorya-2 test clearly supports our belief that there is a considerable gas basin to be exploited in our Ruvuma onshore acreage which we are looking forward to developing,” he added.

Aminex operates the Ruvuma acreage on a 75% stake, with Solo Oil holding the remainder. Its other Tanzanian assets are the Kiliwani North Field, which it operates on a 54.575% stake, and the 90% operated Nyuni Area.

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