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Oil, gas firms sign pact on Tanzanian asset

Posted on : Thursday , 5th February 2015

 Aminex is an Africafocused UK oil and gas company with near term production, development and high impact exploration, premium listed on the London Stock Exchange and primarylisted on the Irish Stock Exchange.

 
Solo Oil is an American oil and gas exploration firm with investments in Africa and other parts of the world. The recently signed agreement, however, still awaits formal approval by the Tanzanian authorities and the formal signing of agreement by all partners.
 
In addition, the companies announced they have agreed to amend the original terms of the agreement to allow Solo the option to purchase the additional 6.5 per cent interest in the license to a period of 30 days after the gas sales agreement (GSA) has been agreed on the same terms as the first 6.5 per cent interest, the release said.
 
The KNDL contains the Kiliwani North 1 (KN1) well, which Aminex and Solo expect to produce at about 566 Mcm/d (20 MMcf/d) when on stream. Independently verified resources at Kiliwani North are estimated to be 1.26 Bcm (45 Bcf) of gas in place.
 
 
 
Construction of the 2-km (1.2-mile) pipeline from the KN1 wellhead to the new Songo Songo processing plant is underway and expected to be completed shortly, according to the release.
 
The partnership has been notified by the Tanzanian Petroleum Development Corporation (TPDC) that pressure testing of the pipeline is expected to commence during first-quarter 2015.
 
In the release Aminex said the company’s board expects the GSA to be signed prior to any gas being delivered for pressure testing or commissioning

Source : IN 2 EAST AFRICA

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