Aminex in talks to boost Kiliwani North output rates
Source - SMW
Aminex said production from the Kiliwani North-1 well was currently fluctuating below 1 million standard cubic feet per day due to low reservoir pressure and inlet pressure restrictions of the gas processing plant.
It said a review of the existing technical data led the company to conclude that Kiliwani North-1 was currently draining a compartment within the greater Kiliwani North structure and was exhibiting slow recharge across faults or via tortuous pathways.
The company said it was in advanced discussions with the Tanzania Petroleum Development Corporation to lower inlet pressure at the gas processing plant and for the installation of compression facilities so as to boost production rates.
It said suitable compressors were currently being sourced.
Aminex said that as previously advised to shareholders in the 2017 half year report, there may eventually be an adjustment to the carrying value of the Kiliwani North asset, which the company does not at present expect to be material.
Following drilling of the successful Ntorya-2 appraisal well earlier this year in the Ntorya gas field, which management estimates has a Pmean gas initially in place of 1.3 TCF, the company has commissioned a new independent report on all its Tanzanian resources which is due to be completed in early 2018.
At 9:49am: (LON:AEX) Aminex PLC share price was -0.63p at 3.53p