UK oil explorer Aminex subsidiary Ndovu Resources has secured a new production sharing agreement (PSA) with the Tanzanian Minister of Energy & Minerals covering 1,690km2 in the Nyuni area.
The PSA will replace the Nyuni-West Songo-Songo PSA, which expires on completion of its full term and to the satisfaction of work obligations.
Aminex and its partners have drilled four wells in the area, two of which are gas discoveries.
The new PSA includes an additional four contiguous blocks covering 338km2 to the north of the previous licence area, and Aminex estimates the contingent and prospective resources for the Nyuni PSA at 2.8 trillion cubic feet.
Ndovu Resources, as operator of the Nyuni area, holds a 70% stake with partners Rak Gas and Bounty Oil, which hold 25% and 5%, respectively.
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