Aminex (LSE:AEX), the AIM-listed oil and gas explorer focused on Tanzania, said all parties have agreed a revised implementation schedule for the Ntorya gas development following a meeting convened by the country's Ministry of Energy on 26 August.
The meeting brought together the Ministry, the Petroleum Upstream Regulatory Authority, the Tanzania Petroleum Development Corporation, operator ARA Petroleum Tanzania (APT), and Aminex's subsidiary Ndovu Resources.
The government rejected APT's proposal to extend and delay the project timetable, instead confirming a schedule that includes workover of the Ntorya-1 well in October, testing of Ntorya-2 in November, and drilling of a newly planned Ntorya-Central well in December.
First gas from Ntorya-1 and Ntorya-2 is targeted for December.
Under the revised plan, Ntorya-Central will be drilled ahead of the previously scheduled Chikumbi-1 well, rather than replacing it as APT had proposed after a management change at its parent company.
The Ntorya to Madimba pipeline is confirmed to be completed in time for first gas, and APT told the meeting it has all necessary funds for the programme, which now moves through the formal Joint Venture approval process.
Aminex views the agreement as important progress toward resolving issues behind the Notice of Dispute it announced on 21 August.
"Our focus now is on working together to implement the agreed programme and deliver first gas without further delay," said Charles Santos, Aminex's executive chairman, adding that the plan marks "just the beginning" of developing what he called the giant Ntorya field.
