Aminex: First Gas Production from Kiliwani North Field in Tanzania
Africa-focused oil and gas production and development company, Aminex plc, announced Wednesday that first gas production has been achieved from the Kiliwani North gas field in Tanzania.
Initial production commenced from the Kiliwani North-1 well April 4 and output is expected to build up to an anticipated rate of between 25-30 million cubic feet per day - approximately 4,000 or 5,000 barrels of oil equivalent per day gross - over the next 90 to 100 days.
All gas produced during the build-up to full production rates will be paid for under the terms of a recently signed gas sales agreement signed with Tanzania Petroleum Development Corporation. Aminex will receive approximately $3.07 per million cubic feet of gas, with expected net cash revenues of $10-15 million per annum. KN-1 represents gross contingent 2C resources of 28 billion cubic feet.
Aminex CEO, Jay Bhattacherjee, commented in a company statement:
“This is a significant moment for Aminex, its shareholders and Tanzania, and is the culmination of a tremendous amount of hard work by all involved. First gas at Kiliwani North marks the transition of the company from developer to producer in Africa and sets us on the path for growth as we begin to generate cash. The company looks forward to its exciting appraisal and development program in the Ruvuma Basin which will potentially add further revenues in due course.”
The Kiliwani North Development License is operated by a wholly-owned subsidiary of the company with a 55.575 percent working interest, which is expected to reduce to 51.75 percent as a result of a partial disposal announced April 4.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- ExxonMobil Racks Up Discoveries in Guyana Block Eyed by Chevron
- Oil Market Sentiment Has Improved Significantly
- EU, US Eye Collaboration on Nuclear Materials
- USA Driving Activity to Increase to All-Time Highs
- EU Electricity Export to Ukraine Up 94 Percent in Two Years
- China Coal Output Falls for First Time since Government Ordered More
- TC Energy to Sell Prince Rupert Gas Pipeline Project to First Nation
- BP Pulse Buys One of Europe's Largest Truck Stops
- UK CCUS Plans Outdated: Think Tank
- I Squared Eyes Full Ownership of Europe Gas Storage Firm
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- EIA Drops 2024 Henry Hub Gas Price Forecast
- EIA and Standard Chartered Offer Up Latest Oil Price Predictions
- Red Sea Region Sees Another Watershed Incident
- Chevron Oil Project in Kazakhstan to Cost $48.5B
- OPEC Voices Encouragement after IEA Affirms Support for Oil Security
- Biden Govt Bares Strategy for Freight Charging, Hydrogen Fueling Infra
- Ukraine Hits Third Russian Refinery In Escalating Drone Strikes
- Rystad Looks at the Buzz Around White Hydrogen
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Is Peak Oil Demand Close?
- Vessel Sinks in Red Sea After Missile Strike
- JP Morgan, Standard Chartered Reveal Latest Oil Price Forecasts
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Rystad Forecasts Net Production of Top Permian Producers in 2024
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension