Aminex

Aminex PLC is a UK-listed oil and gas company focused on exploration and development opportunities in Tanzania. The company has over 20 years of operating experience in the country.

Aminex's key asset is the Ruvuma production sharing agreement in which it holds a 25% carried interest. The Ruvuma PSA contains discovered natural gas resources with over 8 TCF of gross mean unrisked gas initially in place. It is located onshore in southern Tanzania near the Mozambique border. The project is now moving into the development stage, with appraisal drilling planned and preparations underway for an accelerated timeline to first gas production by the end of 2023.

Aminex also holds a 64% operated interest in the Kiliwani North development license which has produced 6.5 BCF of gas to date. This license contains existing infrastructure connected to the Songo Songo onshore gas facility with a capacity of 140 mmcf/d. Aminex is exploring farm-out options for this asset.

Overall, Aminex is transitioning towards a non-operating model focused on advancing and monetizing its material stake in the large-scale Ruvuma gas project. It has significantly reduced costs and secured funding to progress Ruvuma, which has the potential to generate significant long-term cash flow for the company if development continues on schedule.