London-listed Aminex on September 24 said that the Ruvuma joint venture in Tanzania has awarded the seismic acquisition contract to Africa Geophysical Services (AGS).
The company said that the joint venture has been able to take advantage of favourable market conditions securing a lump-sum contract considerably below the expected budget for the activity.
AGS intends to start activities in the Ntorya location from next month. The acquisition will consist of approximately 338 km² of 3D seismic data focusing on the area of primary interest. It will focus on the proposed location for the Chikumbi-1 well, Amines said.
“The Ntorya gas development is now entering a period of operational activity through the acquisition of 3D seismic and well execution that represent major steps towards monetising this large gas resource into existing infrastructure and an established market in Tanzania,” Aminex executive chairman Charlie Santos said.
Under the farm-out agreement completed with Omani-owned ARA Petroleum Tanzania in October 2020, Aminex is carried for its 25% participating share of the associated field development costs up to $35mn, equivalent to gross development expenditure of $140mn.
Ruvuma joint venture comprises ARA Petroleum, which is the operator, Aminex and Scirocco Energy. - SHARDUL SHARMA, Natural Gas World