Aminex PLC provides an update on its discussions with the Tanzanian authorities in regards to the Gas Sales Agreement for the Company’s Kiliwani North Gas Field.
The Gas Sales Agreement with the Tanzania Petroleum Development Corporation (“TPDC”) for the Company’s Kiliwani North Gas Field is largely completed and should be ready for signature shortly, with first commercial gas due to be delivered into a new fully financed 36” regional pipeline system in early 2015. TPDC has requested a final meeting, expected to take place shortly, prior to completing this agreement.
Aminex Chief Executive Officer, Jay Bhattacherjee said: “Following the management’s successful trip to Tanzania in December 2013, the Gas Sales Agreement is largely completed and will be executed once TPDC gives its final approval. With this process nearing its close, first production on the horizon and high impact nature of the Company’s appraisal portfolio in Tanzania, the management team is excited about the prospects for Aminex in 2014 as it seeks to drive forward value for shareholders.”
Press Release, January 09, 2014