Solo Oil, Aminex Up Ruvuma PSC Gas Reserve Estimate
Solo Oil and Aminex have updated internal resource estimates in the southern part of the Ruvuma PSC area, from mean initially in place gas of 2.3 trillion standard cubic feet (tcf) to 3.2 tcf.
Aminex and Solo are partners in the Ruvuma Production Sharing Contract, with respectively 75% and 25% interests. Aminex subsidiary Ndovu Resources Limited is the operator of the Ruvuma Production Sharing Agreement.
Neil Ritson, Solo Executive Director, commented, "Ongoing work by the operator continues to reveal significant additional upside in the Ruvuma PSC using the 2014 seismic data. We remain excited about the potential developments in this area in the next few years where access to the 36-inch pipeline to the gas market in Dar es Salaam is nearly complete."
The newest interpretation using the 2D seismic data acquired earlier in 2014 has shown that in addition to the previously announced target for an appraisal well in the Ntorya-Likonde appraisal area where 2.3 trillion cubic feet (tcf) mean gas initially in place (GIIP) was estimated, there is a further 900 billion cubic feet (bcf) of gas in the Namisange prospect to the west, Solo Oil said.
In November 2013, independent consultants, calculated that the Ruvuma PSC contained unrisked prospective resources of over 5 tcf (mean GIIP) in known prospects and leads. This includes further leads and prospects; including Sudi and Kiswa that are still under evaluation.
The Ruvuma PSC predominantly covers the onshore extension of the highly prolific basin in which multiple giant gas fields have been discovered offshore in both Tanzania and Mozambique during recent years. The presence of condensate in Ntorya-1 well and oil shows seen in Likonde-1 well represent a further positive aspect of the onshore play, since liquid hydrocarbons add considerable further commercial value to the discovered gas and suggest the presence of a potential oil play.
The Chinese built gas pipeline from Mtwara to Dar es Salaam is currently being finalized with over 500 kilometres of the 506 kilometre pipeline now trenched, installed and backfilled with gas.