Aminex to Begin Tanzania Drilling Program in August
Aminex participates in the Nyuni license through a production sharing agreement (PSA) with Tanzania Petroleum Development Corporation (TPDC), the state oil and gas company of Tanzania. In December 2002 Aminex signed a farmout agreement with Petrom SA of Romania for 30% of the Nyuni licence. The Nyuni license is adjacent to the Songo Songo gas field which is currently being developed for production along with a major, internationally-funded gas pipeline to Dar es Salaam.
Commenting on the drilling contract, Aminex Chief Executive Brian Hall said: 'Nyuni#1 will be the first new offshore well to be drilled in Tanzania for 12 years. We believe that enormous oil and gas potential exists along the East African margin, which has only been very lightly drilled to date, and that it presents great opportunities. Interest is growing in the area with Shell, Petrobras and Woodside acquiring acreage in this region.'