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

Also in this section
24 July 2025
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats
24 July 2025
Trump energy policies and changing consumer trends to upend oil supply and demand
24 July 2025
Despite significant crude projections over the next five years, Latin America’s largest economy could be forced to start importing unless action is taken
23 July 2025
The country’s energy minister explains in an exclusive interview how the country is taking a pragmatic and far-sighted approach to energy security and why he has great confidence in its oil sector