Natural gas production company Wentworth Resources has just released its Interim Results for the first semester (H1) of 2022 when its onshore domestic gas asset, Mnazi Bay, recorded an average production of 92.3 million standard cubic feet (MMscf) of gas per day.
This is the highest average H1 production performance to date, above the 2022 FY guidance of 75-85 MMscf of gas per day, and up by +14.9% from the 80 MMscf of gas per day in H1 2021.
The company explains that the record production volumes in H1 highlight the growing power demand and pickup in industrial demand and the post-COVID economic recovery in Tanzania.
And the low cost of production combined with the upcoming work program may add additional volumes in H2 2022.
Mnazi Bay Gas Field
Mnazi Bay is a 756 km2 gas field located onshore in the Mtwara region of Southern Tanzania, approximately 410km south of Dar es Salaam.
The asset is operated by Maurel & Prom (holding a 48.06% stake) with the Tanzania Petroleum Development Corporation (TPDC) (holding 20%) and Wentworth Resources (holding 31.94%) as joint venture partners under the Mnazi Bay Production Sharing Agreement.
Mnazi Bay produces 50% of Tanzania’s natural gas to power over 30% of the country’s electricity generation.