Ruvuma JV approves 2022 work programme and budget

AMinex 26 OctThe Ruvuma JV has approved the 2022 work programme and budget which is designed to meet all work obligations under the terms of the licence extension previously announced on 18 August 2021, and further advance the appraisal and de-risking of the existing gas discovery on the licence

Aminex stated this during providing an update on the Ruvuma PSA, onshore Tanzania.

The work programme will concentrate on shooting 3D seismic on the licence area and drilling the Chikumbi-1 well. The associated project budget for the 2022 work programme is approximately US$25mn and under the farm-out agreement completed with ARA Petroleum Tanzania (APT) in October 2020, Aminex is fully carried for its 25% participating share of an estimated US$6.25mn.

APT, the operator, has confirmed that mobilisation of the seismic team has commenced, and the first phase of the seismic shoot will begin on 15 November 2021. The team will then complete the second phase of the seismic shoot in the Q1 2022 after the Tanzanian rainy season. The Chikumbi-1 well is expected to commence drilling in Q3 2022.

Charlie Santos, executive chairman of Aminex, commented, “These developments demonstrate the professionalism and capacity of the operator and the significant progress made on the licence by the JV partners. As we enter this important phase of activity, we would like to thank APT for the significant progress made. We look forward to updating shareholders on further progress in due course.”

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