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Explorers Aminex and Solo Oil seek a partner to help pay for their hunt for oil and gas in Tanzania

Discussion in 'Biashara, Uchumi na Ujasiriamali' started by R.B, Oct 10, 2012.

  1. R.B

    R.B JF-Expert Member

    Oct 10, 2012
    Joined: May 10, 2012
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    Explorers Aminex and Solo Oil said they were seeking a partner to help pay for their hunt for oil and gas in Tanzania, a country attracting high interest from oil majors who see East Africa as a new hydrocarbon producing region.

    Aminex and Solo said on Monday that they had hired an adviser, First Energy, to run a process to sell up to a 50 percent stake in the Ruvuma exploration licence which sits near the border with Mozambique.
    Recent gas finds off Tanzania and Mozambique have led to predictions the region could become the third largest exporter of natural gas on the planet, prompting oil majors such as Shell to try to become involved in projects there.
    The drilling of a well earlier this year has already enabled the companies to establish that the Ruvuma licence has commercial potential.
    Under licence rules Aminex, which has a 75 percent stake, and Solo, which owns 25 percent, must drill another two wells there before the end of 2013.