East Africa-focused oil and gas company Wentworth reports a “further significant shift” in its operational status, with independent reserves attributed to its Mnazi Bay gas fields for the first time.
Production in Tanzania is now imminent as alternative investment market and Oslo-listed Wentworth has a gas sales agreement in place and the facilities needed to produce these reserves are nearing completion.
Wentworth’s proved and probable reserves – totalling 15.9million barrels of oil equivalent net to Wentworth – are valued at £101.4million after tax.
Managing director Geoff Bury said: “We are very pleased that we now have reserves associated with our Mnazi Bay concession.
“This is a further step towards bringing our gas on stream and follows on the heels of the signing of our gas sales agreement last year, and the ongoing implementation of the field infrastructure.”
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