Aminex has secured an extension to its repayment agreement with its lender. The 18-month reprieve comes after the operator struck a number of deals in Tanzania.
The firm agreed with the Tanzanian Petroleum Development Corporation (TPDC) to extend its licence term for the Mtwara Licence of the Ruvuma Production Sharing Agreement for by an additional year.
The TPDC also approved transferring Aminex’s drilling obligations in the northern Lindi Licence covered by the Ruvuma PSA into the southern Mtwara Licence, which includes the appraisal area for the Ntorya discovery.
Chief executive Jay Bhattacherjee said: “With over a decade of in-country experience and the opportunity to build long lasting relationships with the TPDC and the Tanzanian government, we are grateful for the support we have received in extending and transferring our work obligations.
“We are also pleased to have signed an 18-month extension to our corporate loan with no other variation in terms. We continue to make significant progress at Kiliwani North and to focus on our development of the Ruvuma basin.”