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Aminex looks ahead to next Tanzania well

The next well aims to follow up the successes at the nearby Ntorya gas project

oil and gas operations
A tendering process is underway

Aminex plc (LON:AEX) told investors that it is preparing for the drilling of the Chikumbi-1 (CH-1) well in Tanzania.

It will be a follow-up to the successful wells of the Ntorya project, with CH-1 located up-dip from both the Ntorya-1 and Ntorya-2 wells.

The well is expected to delineate the Ntorya gas field in a significantly thicker section of the reservoir system and is also intended to evaluate a deeper exploration target.

READ: Aminex farm-out agreement should kick-start Ruvuma development

Success is expected to lead to production into the existing Madimba gas processing plant, before being integrated into a wider field development.

A tendering process is now underway to hire a rig for the CH-1 programme.

"The company continues to progress the completion of the proposed farm-out transaction while driving forward operations over its key assets at Ruvuma and Kiliwani North," said Jay Bhattacherjee, Aminex chief executive.

Additionally, the company noted that pressure in the Kiliwani North-1 well has built up sufficiently and work continues to stimulate production as soon as possible.

Quick facts: Aminex PLC

Price: 0.9 GBX

LSE:AEX
Market: LSE
Market Cap: £33.94 m
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