Aminex has boosted threefold the gas resource estimate for its Ntorya discovery onshore Tanzania, bolstering the prospects for an imminent field development plan.
The find in the East African country’s prospective Ruvuma basin is now estimated to hold in-place resources of around 1.3 trillion cubic feet, an increase from the previous estimate of 466 Bcf, following the successful Ntorya-2 appraisal well and re-evaluation of existing seismic.
This major upgrade comes amid ongoing analysis of the results from Aminex’s recent and successful Ntorya-2 appraisal well, in addition to findings of a re-evaluation of existing 3D seismic data.
Perhaps significantly, Aminex highlighted that the upgraded 1.3 TCF estimate still only covers the Ntorya appraisal area and does not account for any of the resource potential in the surrounding exploration acreage.
Exploration aside, Aminex is presently working with consultant Baker Hughes to put together a commercialisation plan for the Ntorya resource.
The company said early September that plan, along with an associated development plan for the Tanzania authorities, is expected to be ready in the near future.
"The updated modelling, mapping and corresponding resource numbers continue to confirm that the Ruvuma Basin is of significant importance to Tanzania and the company,” said Jay Bhattacherjee, Aminex chief executive.
“We continue to work directly with the Tanzania Petroleum Development Corporation to create an optimal development plan so as to begin gas production from the licence as quickly as possible."
Aminex is driving the project with a 75% stake in the asset while Solo Oil owns a 25% interest in the gas discovery.
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