Business
Submission of Ntorya Development Plan
Submission of Ntorya Development Plan.
About this update from Aminex Plc
[{"type":"text","content":"\n \nRNS Number : 9026P Aminex PLC 06 September 2017 \n\n06 September 2017\n \nAminex plc\n (\"Aminex\" or \"the Company\")\n \nSubmission of Ntorya Development Plan\n \nAminex is pleased to announce that a Development Plan for the Ntorya field, located onshore in the Ruvuma Basin, Tanzania has been submitted to the Tanzania Petroleum Development Corporation ('TPDC') for approval. The Development Plan is a key step towards obtaining a development licence and the commercialising of the resources from the Ntorya appraisal area which sits within the Ruvuma Basin. \n \nThe Development Plan, which incorporates the findings from io oil and gas consulting's Gas Commercialisation Study, is a comprehensive review of the existing data and includes the findings of recent mapping and the upgraded unrisked resource estimates of approximately 1.3 TCF Pmean GIIP.\n \nThe Plan takes into account several options for gas monetisation including Compressed Natural Gas, Gas to Power and directly connecting the gas produced from the Ntorya field to the Madimba Plant in South Eastern Tanzania via an approximately 35 km spur line. The Company has applied for a staged development of the field to allow for an early production system with existing wells and a programme that drills further development wells based on demand.\n \nThe Development Plan is now subject to review by the Tanzanian authorities and the Company will provide an update on this and the timing for spudding the Ntorya-3 well during Q4 2017. \n \nJay Bhattacherjee, CEO of Aminex, said:\n\"Submission of the Ntorya field Development Plan is a major milestone for the Company as we progress towards unlocking the value across Ntorya and Ruvuma as a whole. The Company continues to work on further well plans in order to maximise development of the field and looks forward to updating shareholders in Q4 on the status of the Ntorya-3 well.\"\n \nEnds\n \nFor further information, please contact:\n \nAminex PLC \nJay Bhattacherjee, Chief Executive Officer +44 (0) 20 3198 8415\n...