East Africa-focused oil & gas company Wentworth Resources (OSE: WEN, AIM: WEN) issued today its Commercial, Operational Update
In Tanzania, the company operates the Mnazi Bay & Msimbati gas fields in a joint venture with Maurel et Prom and the Tanzania Petroleum Development Corporation (TPDC).
For 2019, the Company anticipates further growth in gas demand with the extension to the Kinyerezi-1 power plant that
This facility will initially require 5 MMscf/d and will build up approximately 30 MMscf/d of
Continued gas demand growth in 2019 is also expected, primarily from the Dangote Cement Plant and other smaller industrial consumers; adding an additional 10-15 MMscf/d to national demand needs by Q2 2019.
Eskil Jersing, CEO of Wentworth Resources, commented: “We look forward to updating the market on our progress in 2019, in a rapidly developing demand-led landscape. Our efforts this year will be primarily focused on maintaining efficient operations at our Mnazi Bay asset, strengthening our financial position and executing on our M&A led growth mandate.”
From 2010, Tanzania has witnessed further exploration and natural gas discoveries with estimated natural gas reserves (2016) of 57 trillion cubic feet (TCF).
Natural gas was discovered both offshore and onshore the Songo Songo Island, while the gas discovery at Mnazi Bay was only offshore.
The natural gas from Songo Songo was first commercialized in 2004 and the gas from Mnazi Bay in 2006.
The commercialization of the two discoveries propelled further gas exploration both onshore and offshore.