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Aminex boss looks to wrap up GSA ahead of looming Kiliwani production

Published: 12:15 25 Jun 2015 BST

The chief executive of Aminex (LON:AEX), Jay Bhattacherjee, expects first gas production from the firm’s Kiliwani North field in Tanzania to occur within the next 60-90 days.

Speaking to Proactive, the CEO elaborated on previous guidance of ‘mid-2015’ and added that a gas sales agreement (GSA) with the Tanzania government is expected to be finalised before production kicks off.

Revenues from the field are crucial in allowing the firm to pay down a US$7.6mln loan by the end of January, 2016.

“We’ve been working with our supportive lender,” said Bhattacherjee. “We’ll begin to pay off the loan imminently and with Kiliwani production I’m comfortable the company will meet its obligations.”

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