Business
Corporate and Operations Update
Corporate and Operations Update.
About this update from Aminex Plc
[{"type":"text","content":"\n \n \n RNS Number : 9583D\n Aminex PLC\n 25 February 2020\n \n \n \n \n 25 February 2020 \n \n \n Aminex plc\n \n (\"Aminex\" or \"the Company\") \n \n Corporate and Operations Update\n \n Aminex announces the following update regarding the Company's ongoing operations in Tanzania and other corporate matters.\n Highlights:\n \n · APT and Aminex have agreed that upon completion of the Farm-Out and the transfer of operatorship to APT, they will seek permission from the Joint Venture and the Tanzanian authorities to move the contingent elements of the 2020 work programme into the firm budget\n \n · Positive indications in-country that, after a period of reduced corporate engagement, the Government is re-engaging with the international business community to support the country's power demands\n \n · Awaiting formal update relating to (i) the review of production sharing agreements (\"PSAs\"), (ii) formal extensions for the Mtwara and Nyuni Area licences and (iii) the approval of the Kiliwani-North-1 remediation programme; in-country media reports suggest that the PSA review process is near completion\n \n ·Ntorya project progressed such that following approval of the tendering and procurement process, the Company can progress operations supporting the ordering of the Long Lead Items shortly thereafter\n \n · ARA Petroleum Tanzania (\"APT\") has secured offices and staff accommodation\n Tom Mackay, Chief Executive Officer of Aminex commented:\n \"While we continue to engage in constructive dialogue, Aminex and APT are working diligently to progress workflows such that when the approvals are given, we can quickly move into an operational phase and deliver first gas from Ntorya and begin remediation work on Kiliwani. As of yet, no formal update has been received from the Government of Tanzania in regards to our licences, however we have had positive indications in-country that the Government is approaching a place where it can update the international oil companies.\n We thank shareholders for their continued confidence in the project and patience during this time of internal government reform. We look forward to updating the market as and when progress is made.\"\n Ntorya Project Update\n The Company has prepared and is in the process of receiving approval from the appropriate authorities to proceed for ...