The Ministry of Energy of Tanzania has granted upstream oil and gas firm Aminex and its partners in the Ruvuma joint venture (JV) a 25-year development license for the Ntorya gas discovery.
The JV will invest at least $10 million in various activities, including geological studies and the drilling of an exploration well within five years of the start of gas production at Ntorya. The Ruvuma JV will develop the five blocks, producing gas to supply the local market.
A multi-year gas agreement has already been signed with the country’s national oil company – the Tanzania Petroleum Development Corporation.
“The Tanzanian government has clearly said it would use the country’s energy resources to eliminate energy poverty, spur growth and improve living standards. We believe Ntorya is a vital part of this vision and the Development License helps turn this vision into reality,” stated Charles Santos, Executive Chairman of Aminex.
The Ntorya Development License covers five blocks containing the Ntorya discovery, which were initially part of the broader Mtwara Exploration License, offshore Tanzania. The Mtwara Exploration License initially contained the five blocks containing the discovery as well as four additional blocks. The license has been separated into two groups, with the second group of four blocks designated for exploration.
