Proactive Investors - Run By Investors For Investors

Aminex advances plans for next Tanzania well as it awaits farm-out close

It is working towards the drilling of the Chikumbi-1 well along with new seismic exploration programmes.
oil and gas operations
The farm-out is set to be finalised after a vote in early 2019

Aminex plc (LON:AEX) has highlighted the operational progress being seen in Tanzania whilst it works to complete its farm-out transaction with the Zubair Group.

The transaction is due to be voted on at a shareholder meeting on 4 January.

In the meantime, Aminex has finalised the anticipated programme for the planned Chikumbi-1 at the Ruvuma project and it has selected the contractors for the work. It has entered into a rig sharing agreement with Heritage Oil, for each company to reduce mobilization and demobilization costs.

READ: Aminex making “good progress” on Ruvuma farm-out deal

Aminex has also put together plans for a 3D seismic programme which will cover some 220 square kilometres over the Ntorya development area.

Chikumbi-1 will be located about 4 kilometres from the successful Ntorya-2 well, drilled in 2017, and, it will be drilled down to a depth of 3,485 metres. If it proves successful, it is expected to be completed as a future producer, in the Ntorya development.

The well has two objectives – to expand and delineate the Ntorya project, and, to test a deeper, Late Jurassic exploration target.

Kiliwani North

Aminex also updated on the Kiliwani North asset, where a recent remedial programme on the project’s producing well provided the opportunity for further analysis. Sclumberger fully opened the well.

The company believes there is a fluid column in the well and it is analysing the operational and testing data.

It added that it has identified areas for a proposed 3D seismic programme, which would aim to identify low-cost drilling prospects, which may be monetised by being tied into the existing facilities.

View full AEX profile View Profile

Aminex PLC Timeline

Related Articles

Rig ship
May 07 2019
COPL hopes to start appraisal drilling at OPL 226 in mid-2019, subject to finance.
Kvanefjeld project in picturesque Greenland
March 26 2019
The company added to its share price yesterday after shaving US$38 million off its civil construction costs.
Oil rig
Fri
Origin Creek Energy is now a significant shareholder in the company.

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use