Aminex PLC is an upstream oil and gas company listed on the London Stock Exchange (AEX)
Aminex made its initial investment in Tanzania in 2002 and has operated in-country for 22 years.
The Company has demonstrated an ability to find, appraise and develop fields successfully from initial concept through to production.
Aminex, through Ndovu Resources, currently holds interests in three licences in-country.
Located immediately to the north of the Mozambique border and predominantly onshore, three wells have been drilled to date.
Aminex, through Ndovu Resources, holds an operating participating interest of 63.83% in KNDL with partners RAK Gas (27.78%) and Scirocco Energy (8.39%)
The Nyuni Area PSA was awarded to Ndovu Resources in October 2011, covering a similar area to that under the NESS PSA, following the discovery made at Kiliwani North-1 (KN-1) in 2008 and the grant of the KNDL in April 2011.
The permit was considered to be underexplored with only three exploration wells, Nyuni-1 and 1A and Nyuni-2 having been drilled during the earlier period of exploration.
Nyuni-1 encountered a Cretaceous Aptian-Albian gas sand with 15m gross reservoir and 10m net with an average porosity of 14%. The interval was not tested. Nyuni-1A encountered a thick Neocomian sandstone sequence, however no gas was recovered on test and the zone was interpreted as tight. Nyuni-2/2A targeted the sandstones equivalent to those penetrated in Nyuni-1 and 1A however only minor sandstones with gas shows were encountered. The well was suspended within the Neocomian due to drilling difficulties.
Significant discoveries have been made in several accumulations within adjacent blocks with reported volumes in excess of 50 TCF having been discovered with a high drilling success rate. Several discoveries have been made by the Shell/Ophir Group in Blocks 3 & 4 lying approximately 50 kms from the Nyuni Area PSA. Equinor has made significant discoveries on Block 2. Discoveries include the Pweza, Chewa and Papa Fields in Blocks 3 & 4 and the Lavani and Zafarani Fields in Block 2.
Application was made to enter into the Second Extension Period of the licence in 2019 with no formal response from the Tanzanian authorities until 2021; a review of the terms of all then extant PSAs was conducted by order of the Tanzanian Parliament which delayed the routine administration of all licences including the Nyuni Area PSA.
Given the delays and the recent more negative changes in the commercial appetite for deep-water exploration, a farm-out partner was considered to be essential in order to provide the necessary funding and to mitigate the associated exploratory risks. Moreover, Ndovu was unable to reach agreement on terms to enter into a Second Extension Period and commenced discussions to return the licence to the Ministry in late 2021.
Aminex, currently holding a 100% interest in the PSA through Ndovu Resources, has been requested to market the licence in an attempt to find a third-party willing to pursue and fund a mutually agreed re-negotiated work programme.
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