Ruvuma PSA

The Ruvuma PSA was signed in 2005 and was originally comprised of two separate and adjacent licences – Lindi and Mtwara.

Located immediately to the north of the Mozambique border and predominantly onshore, three wells have been drilled to date:

Likonde-1

Drilled in 2010 and encountered gas shows but was plugged and abandoned without testing.

Ntorya-1 (NT-1)

Drilled in 2012 and tested gas at a rate of 20 MMscf/d with condensate from Cretaceous Aptian sandstones and suspended for future production.

Ntorya-2 (NT-2)

Drilled in 2017 as an appraisal well to NT-1, tested gas at 17 MMscf/d from the same Cretaceous reservoir sandstones and was suspended for future production.

Whilst both Lindi and Mtwara licences have expired and the retained licenced area, within the PSA, substantially reduced, application was submitted in 2017 for a 25-year Development Licence to permit development and further appraisal of the Ntorya Field.

RPS Energy completed a Competent Person’s Report (CPR) for Aminex in 2018 and estimated a gross Pmean of 1.87 TCF gas-in-place with 763 BCF gross recoverable gas of 2C Contingent Resources associated with the Ntorya Discovery. In July 2018, the Company agreed a farm-out of a 50% operated interest in the PSA to ARA Petroleum Tanzania Limited (APT), a wholly owned subsidiary of ARA Petroleum Limited, itself an associate of Eclipse Investments LLC, who then owned just under 29% of the issued share capital of Aminex PLC. In return, the Company received $5 million and a carry of up to $35 million of its costs for its retained 25% interest in the development of the Ruvuma asset, equivalent to a carry on the first $140 million gross expenditure on the project. The farm-out completed and operatorship transferred to APT in October 2020. APT also acquired Scirocco Energy’s 25% interest in Ruvuma and now has a 75% interest.

From 2020, APT immediately started planning the acquisition of approximately 338 km² of new 3D seismic and preparing for the drilling and testing of the Chikumbi-1 (CH-1) appraisal well on the Ntorya structure.

The 3D seismic data is in the final stages of processing whilst planning for both the upcoming Chikumbi-1 well and additional testing of the NT-2 well are almost complete. A re-entry to repair casing damage to NT-1 and ensure safe completion of the well as a gas producer, is also at a state of advanced planning.

Importantly, the Field Development Plan (FDP) for the Ntorya area has been submitted and approved by the TPDC. In January 2024, the Gas Sales Agreement was signed between the parties and APT has been informed by the TPDC that the award of the Development Licence is imminent.

Whilst there is ullage in the nearby Madimba gas processing plant that will allow for the transportation of up to 140 MMscf/d, subject to the construction of a ca. 30 km spur line from Ntorya to Madimba, the Operator is exploring options for the sale of any additional gas volumes.

Ruvuma PSA seismic recording truck

Gas flare at Ntorya-2

Ntorya-2 drilling operations

Caroil-2 Rig

Ntorya-1 well test

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