The Latest

East Africa-Focused Oil & Gas Company Revenues Up By 11% In 2014 Thanks To Increasing Gas Sales Volumes In Tanzania

March 15, 2015
1 minute read

East Africa-Focused Oil & Gas Company Wentworth Resources Limited, announced its audited financial results for the year ended 31 December 2014.

Revenue are up by 11% from 2013, to USD 1.06 million, due to increasing gas sales volumes at a fixed price of USD 5.36 per mmbtu to an 18 megawatt power plant in Mtwara, Tanzania.

Income from operating activities reached USD 13,8 million in 2014 as opposed to a loss of USD 9,4 million in 2013.

TANZANIA BUSINESS & INVESTMENT GUIDE 2026

Geoff Bury, Managing Director, of Wentworth Resources commented: “We are very pleased that we now have reserves associated with our Mnazi Bay concession. This is a further step towards bringing our gas on stream and follows on from the signing of our gas sales agreement last year, and the ongoing implementation of the field infrastructure.”

“With the government pipeline project on track for a Q2 2015 commissioning, Wentworth now has a defined market for its Mnazi Bay gas and is within a few months of commencing first production into the pipeline, which should generate significant free cash flow in 2015.” Bury added.

Want to know more about Energy in Tanzania? Our free Tanzania Business and Investment Guide 2026 covers Energy, plus regulations, key sectors, and investment opportunities — all in one place.

Download Free Guide
Tweet
Share
Share
Share
Related Posts
EACOP April 2026 Update
Read More

East African Crude Oil Pipeline Reaches 82% Completion

The East African Crude Oil Pipeline (EACOP) has reached 82% overall completion as of April 2026, with construction progressing across pipeline sections, pump stations, and the Chongoleani Marine Terminal in Tanga. The 1,443-kilometre pipeline is advancing steadily toward First Oil, with all line pipes delivered and the marine jetty at 88.1% completion.
Tanzania Mnazi Bay Gas Well
Read More

Tanzania Seeks Strategies to Revitalize Petroleum Exploration Activities

The Ministry of Energy instructed the Petroleum Upstream Regulatory Authority (PURA) and Tanzania Petroleum Development Corporation (TPDC) to seek strategies to revitalize petroleum exploration activities in Tanzania and add investment blocks. Officials highlighted the drop from 26 to 11 active Production Sharing Agreements and emphasized creating an enabling environment for exploration, including collaborations with Multi-Client Geophysical Companies.