Aminex fast-tracking Tanzanian discovery

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    Date: Thursday 17 Jul 2008

    LONDON (ShareCast) - Oil and gas company Aminex said commercialisation of its Killiwani North-1 well in the Songo-Songo gas field is to be fast-tracked in parallel with further exploration drilling of the remaining exploration blocks.

    The company said the Killiwani North-1 (KN-1) well has proved that the neighbouring Songo-Songo producing gas field is not a stand-alone field, and that the surrounding prospects should also be capable of producing commercial hydrocarbons.

    Aminex said its joint venture company will explore and evaluate other prospects I nthe region. “An internal evaluation of all of the prospects identified results in combined prospect sizes in excess of 1 trillion cubic feet of gas on a risked P50 basis,” the company said, adding that the prospect evaluation figure should not be confused with a reserves calculation.

    Aminex is the operator and 40% stakeholder in the Nyuni Production Sharing Agreement consortium.

    Elsewhere in Tanazia, the company said solid progress is being made in preparation for the first drilling in the 12,000 square kilometre Ruvuma Basin Production Sharing Agreement ,where Aminex is equal joint-owner with Tullow Oil.

    Drilling on the first of two commitment wells is expected to be start in early 2009.

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