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Aminex PLC - Tanzania focused gas project developer - Ruvuma joint venture has gained an extension to its licence under the production sharing agreement from the Ministry of Energy in Tanzania, valid for two years from Sunday last week.
The extension will allow for the acquisition of 200 square kilometres of 3D seismic data, drilling of the Chikumbi-1 well and concluding negotiations of the gas terms for the Ruvuma PSA.
Acquisition of the data is expects to start in the third quarter of 2021, and Chikumbi drilling in the third quarter of 2022.
"We are delighted to receive the extension to the licence and appreciate the Ministry of Energy's steadfast support. We are also thankful for APT's diligent efforts to secure the extension and look forward to updating shareholders on further progress in due course," says Executive Chair Charlie Santos.
Scirocco Energy PLC also noted the extension.
Current stock price: 0.57 pence, up 9.5%
Year-to-date change: unchanged
By Dayo Laniyan; dayolaniyan@alliancenews.com
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