The Tanzanian Petroleum Development Corporation has approved a plan to extend the license term for The Mtwara License of the Ruvuma Production Sharing Agreement in Tanzania by one year.
Following the decision, TDPC is processing the extension for immediate Ministerial approval. The license was previously due to expire in late December this year.
In addition to the license extension, Aminex completed discussions with the TPDC with regards to transferring the outstanding drilling obligations in the northern Lindi License, also covered by the Ruvuma PSA, into the southern Mtwara License. Mtwara includes the approved appraisal area for the Ntorya gas condensate discovery.
TPDC is supporting the transfer of the Lindi drilling obligations to Mtwara and is seeking Ministerial consent. Once consent is received, Aminex and Solo Oil intend to drill the Ntorya-2 appraisal well which will satisfy the appraisal drilling obligation of the asset.
"Solo is very pleased with progress in the Ruvuma PSA and that we will shortly be in a position to commence the appraisal of the Ntorya-1 gas condensate discovery which we remain convinced has substantially more potential than the gross 70 billion cubic feet of gas booked to contingent resources this farm” said Neil Ritson, Solo's chairman, in a company statement.
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