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Aminex and Solo Oil temporarily reduce output from Tanzania gas field

Aminex will now gather data and consider options to lift production in the future.
oil and gas operations
Solo Oil owns a 7% stake in Kiliwani North, while Aminex has 54%

Aminex plc (LON:AEX) and Solo Oil PLC (LON:SOLO) told investors that gas production is being restricted at the Kiliwani North well in Tanzania.

The rate is being temporarily reduced to less than 1mln cubic feet per day because the KN-1 well is now thought to be draining only a single compartment within the greater Kiliwani North structure.

WATCH: Aminex boss discusses Kiliwani North plans with Proactive's Andrew Scott

READ: Aminex returns to profit thanks to continued success in Tanzania

Aminex said the well is exhibiting slow recharge across faults or via restricted pathways within the structure.

Aminex is expected to use the time to collect additional data and evaluate options to maximise future gas recovery, which include the installation of temporary wellhead compression, and new ‘step-out’ drilling.

READ: Solo Oil highlights opportunities as its investments advance

Aminex noted that the timing of its monthly payment schedule at Kiliwani North means that it doesn’t expect the reduction to have a material impact on forecast cash flow for 2017.

Solo Oil owns a 7.175% stake in Kiliwani North, while Aminex is the operator with a 54.575% interest in the asset.

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