Dar Es Salaam, Tanzania
Wentworth expands Tanzania asset base
AIM-listed independent continues to target country’s domestic gas market
Tanzania-focused Wentworth Resources will acquire fellow AIM-listed independent Scirocco Energy’s 25pc non-operated working interest in the East African country’s Ruvuma asset for an initial $3mn and up to $13mn in contingent payments. The Ruvuma production-sharing agreement includes the 1.9tn ft³ (53.8bn m³) Ntorya gas discovery, which is adjacent to Wentworth’s existing Mnazi Bay gas development and around 39km from the government-operated Madimba gas plant. The firm intends to use its cash resources for the acquisition. The new joint venture partners plan to drill the Chikumbi-1 appraisal well late this year or early next. Assuming success there, FID is targeted for 2023, with the first g
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