Extra time for Aminex in Tanzania

May 30, 2013

Aminex has been given extra time to carry out exploration in its licence in Tanzania's offshore Rovuma Basin. 

Partner in the licence Solo Oil, said the Tanzanian Petroleum Development Corporation had agreed a variation of the terms of its Ruvuma Basin production sharing agreement (PSA) with Aminex.   

This will allow drilling, originally planned to be completed before the end of this year, to be deferred until before late 2016, when the licence will now expire. 

Aminex, operator on the PSA, is currently in a farm-out process to bring a new partner to the venture. Solo Oil says discussions with a number of interested parties are continuing.

The Ruvuma PSA covers about 6000 sq km, including an onshore section of Tanzania's of Ruvuma Basin and sections of shallow water and a section of deep water.  

The Ruvuma River, the southern limit of the PSA, is the frontier between Mozambique and Tanzania. 

Solo and Aminex plan to carry out further appraisal of the Ntorya-1 discovery, a natural gas and condensate discovery, along with further exploration for gas and oil.  

Partners in the Ruvuma PSA are Aminex, with 75% and Solo Oil, with 25%.



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