Subject to vessel availability, the program could start during the next suitable weather window in 2016.
In August state-owned Tanzanian Petroleum Development Corp. (TPDC) confirmed that Tanzania’s Ministry of Energy and Mines had agreed to defer Nyuni’s two exploration wells commitment into the four-year first extension period which ends in October 2019.
Aminex has submitted a relinquishment plan which should maintain optionality through retention of virtually all the deepwater blocks, while retaining key blocks on the continental shelf, including Nyuni and Fanjove Islands. This remains subject to TPDC approval.
However, RAK Gas LLC has served notice of its intention to withdraw from the Nyuni Area PSA and not to participate in the first extension period. This would raise Aminex’s interest in the license to 92.5%.
The company says it is unlikely to be in a position to drill an expensive deepwater well in the Nyuni Area without introducing bringing in a larger farm-in partner, although the possibility of drilling wells on the shelf more economically remains an option.
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