Ntorya gas condensate field located in south-east Tanzania and forms part of the Ruvuma Petroleum Sharing Agreement (PSA), which is jointly owned by its operator Aminex (75%) and UK-based Solo Oil (25%).
The JV submitted a development plan for the gas field to the Tanzania Petroleum Development Corporation in September 2017.
Ntorya’s commercialisation has been movitated by Tanzania’s increasing demand for gas, which is to exceed supply over the next three years. A number of power and industrial plants are due to be completed during the period, which will further increase demand for gas.
Solo Oil PLC (LON:SOLO) is an investment company with the target of acquiring a diverse global portfolio of direct and indirect interests in exploration, development and production oil and gas assets, both on-shore and off-shore.