Aminex (LON: AEX) shares jumped around 35% in early trading after the company announced an agreed revised implementation programme for the Ntorya gas development in Tanzania, targeting first gas in December 2026.
The agreement followed a meeting convened by Tanzania’s Ministry of Energy on 26 August involving the Ministry, PURA, TPDC, operator ARA Petroleum Tanzania, Aminex subsidiary Ndovu Resources and other project representatives.
Aminex said the Tanzanian government did not approve a proposal from the operator to extend and delay the project timetable, instead confirming a revised schedule that was agreed by all parties.
Under the new programme, the Ntorya-1 well is scheduled for workover in October, followed by testing of Ntorya-2 in November and drilling of a newly planned NT-Central well in December.
First gas from Ntorya-1 and Ntorya-2 is targeted for December 2026, with the Chikumbi-1 well to be drilled after NT-Central.
ARA Petroleum Tanzania had previously proposed bringing NT-Central forward in place of Chikumbi-1 following a technical reappraisal of the field. Under the agreed programme, however, both wells will now be drilled, with NT-Central first and Chikumbi-1 following afterwards.
The meeting also confirmed that the Ntorya-to-Madimba pipeline is expected to be completed in time to receive first gas in December.
APT told the parties that it has the necessary funding to carry out the revised development programme. The schedule will now move through the formal joint venture approval process under the Joint Operating Agreement.
Aminex said the agreement represents important progress toward resolving the issues that led to the Notice of Dispute announced on 21 August 2026.
Charles Santos, Executive Chairman of Aminex, commented:
“I would like to thank Dr James Mataragio, Permanent Secretary for Petroleum at the Ministry of Energy, for convening the meeting last week and for the constructive approach taken by all parties. Our focus now is on working together to implement the agreed programme and deliver first gas without further delay.
“The revised implementation programme establishes clear near-term operational milestones, targets first gas for December 2026 and provides for the drilling of a newly planned well, NT-Central, while ensuring that the CH-1 well is also drilled.
“Together, these activities form just the beginning of the development of the giant Ntorya field which is expected to deliver large volumes of gas supplies to Tanzanians, helping alleviate energy poverty, boost industrial development and fuel Tanzania’s economic growth.”
