RE: Fake or Fortune.....28 Oct 2024 11:30
..and the same to you crusty and all who are still sailing here...
Reasons why I’m still (god knows why I have other commitments for my dosh but what he hell) here:
The Ntorya gas discovery is highly significant to Tanzania’s energy future. It is expected to boost domestic gas production by 20-80% initially, with potential for further increases as exploration continues.
This development will help alleviate energy poverty, support economic growth, and enhance energy security. The project aims to transform Tanzania into a regional energy hub, providing gas for electricity generation and industrial use, which could spur industrial development in the Mtwara region and beyond.
ARA Petroleum Tanzania (APT) has been granted a 25-year development license for the Ntorya gas discovery in Tanzania's Mtwara region. This significant milestone marks the beginning of Tanzania's largest onshore gas development project, aimed at boosting the country's domestic gas production and energy security.
APT's field development plan includes:
1. Converting existing wells (Ntorya-1 and Ntorya-2) into producing wells
2. Drilling the Chikumbi-1 appraisal well
3. Building in-field gas processing facilities
4. Constructing a 35-km natural gas pipeline from Ntorya to TPDC's 210-MMcfd Madimba gas processing plant
APT believes the Ntorya gas field has significant untapped potential:
Unaudited Contingent Resource estimate: 3.45 trillion cubic feet of gas initially in place (GIIP)
Mean unrisked GIIP potential: 16.4 trillion cubic feet
Risked mean potential: 6.9 trillion cubic feet for the wider Ruvuma JV area
The development of the Ntorya gas field is expected to boost Tanzania's energy security, spur economic development, and potentially transform the country into a regional energy hub. The project also aims to support the country's energy transition and alleviate energy poverty.
I still believe in my original and re- investment decisions... it is hard sometimes to 'keep the faith' while things grind on at a glacial rate with seemingly nothing overtly happening. But I'm sure behind the scenes, words are being spoken and actions hoverer slow are being taken...gotta hope eh?