Aminex PLC (LSE:AEX) shares climbed on Wednesday after the oil and gas company reported progress on Tanzania’s Ntorya gas development after meetings with state entities this week, including a construction schedule for the pipeline to the Madimba plant.
Contractors have begun procurement, mobilisation of equipment is slated for September, the company said, whilst adding that groundwork and pipelaying work is due to start in January, with completion targeted for July 2026.
Aminex told investors that condensate processing and storage options were discussed with counterparts.
The Tanzanian state-backed firm TPDC, meanwhile, approved the tender strategy to contract a rig for the Chikumbi-1 well and a workover at Ntorya-1, with expressions of interest to be sought next week, it said.
“Our discussions with the TPDC and the operator have been extremely fruitful,” said executive chair Charles Santos said.
“We are delighted that activity on the Pipeline is proceeding as planned.”
In London, Aminex shares traded up earlier on Thursday, reaching 2p, close to its twelve-month high. As the session progress the price moved back to around 1.86p.