Aminex looks forward to start of Ruvuma work programme


Aminex PLC (LSE:AEX) told investors that the Ruvuma joint venture has approved the proposed work programme for 2022, and mobilisation has already begun.

The programme is designed to meet all work obligations under the JV’s licence agreement and will advance the appraisal and de-risking of the project’s existing gas discovery.

It is budgeted at US$25mln, with Aminex fully carried for its 25% share of the costs via its farm-out deal with ARA Petroleum. The work programme will comprise 3D seismic and the drilling of the Chikumbi-1 well.

“This is another positive step in the development of the Ruvuma project, following the extension of the license and the award of the seismic acquisition contract,” said executive chairman Charlie Santos.

“These developments demonstrate the professionalism and capacity of the operator and the significant progress made on the licence by the JV partners.

“As we enter this important phase of activity, we would like to thank APT for the significant progress made. We look forward to updating shareholders on further progress in due course.”

Aminex noted that APT confirmed that mobilisation of the seismic team has commenced, and the first phase of the seismic shoot will begin on November 15, followed by phase two in the first quarter of 2022.

Chikumbi-1 is expected to spud in the third quarter of 2022.

Scirocco also retains a 25% interest in the Ruvuma project which is described as a legacy asset.


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