In Tanzania, Bowleven Plc. has signed a conditional Heads of Terms (HOT) with Aminex Plc. to acquire 25% interest in the Kiliwani North Development Licence and also a 50% interest in the Ruvuma PSA.

According to Kevin Hart (photo) the Chief Executive of Bowleven Plc, the choice to sign the agreement with Aminex follows the widespread screening of a huge number of opportunities in Africa.

“Consistent with the Group’s strategy, the deal affords Bowleven the opportunity to participate in highly attractive production and material appraisal/exploration assets without compromising its robust balance sheet and strong capital discipline. In particular, the onshore Ruvuma acreage mirrors the near-term in-situ gas-to-power development possibilities being progressed at Bomono, whilst the extensive, material prospective resources open up the opportunity for substantial future gas sales via the existing proximal processing infrastructure and pipeline”, he said.

The Kiliwani North Development Licence includes the Kiliwani North gas field where Aminex, anticipates producing approximately 30 Mmscf of gas daily. The Kiliwani North-1 (KN-1) well is currently tied into the main pipeline infrastructure, awaiting completion of the adjacent Songo Songo gas processing plant, which is estimated to be completed soon.

Aminex is the operator of the field with RAK Gas, Solo Oil, Bounty Oil & Gas and TPDC holding 55.575%, 23.75%, 6.175%, 9.5%, 5% interests respectively.

Meanwhile the Ruvuma PSA, onshore Tanzania, provides the potential for near-term production, post appraisal and exploration drilling scheduled in 2016, together with noteworthy upside potentials, found on the block. Aminex is also the operator with Solo Oil holding 75% and 25% interests respectively, Energy-pedia reports.