Oil & Gas

Aminex is in discussions with its partners after the operator of Tanzania's Ruvuma Production Sharing Agreement, ARA Petroleum Tanzania Limited (APT), proposed major changes to the approved 2026 work programme and budget that would delay key milestones at the Ntorya gas development. The proposed revisions follow changes in APT's parent company management and a technical reassessment of the project.

Under the revised plan, first gas production from the Ntorya Development and the drilling of the Chikumbi-1 well would be postponed through a significantly reduced 2026 budget. The proposal has not been approved by Aminex or the Tanzania Petroleum Development Corporation (TPDC), with discussions continuing alongside The Zubair Corporation to agree on a development programme that meets the obligations set out under the Development Licence and the 2018 Farmout Agreement.

Aminex has reaffirmed that it reserves all contractual rights under the Farmout Agreement, Joint Operating Agreement and Development Licence to ensure APT fulfils its commitments. The company also retains the option of seeking recourse under the Parent Company Guarantee provided by The Zubair Corporation if necessary.