24th Sep 2021 09:56
(Alliance News) - Scirocco Energy PLC on Friday said the Ruvuma joint venture - in which Scirocco owns a 25% legacy position - has awarded a seismic acquisition contract to Africa Geophysical Services Ltd.
Africa Geophysical Services is based in Muscat, Oman and is a land seismic data acquisition and processing company.
Under the deal, AGS will collect 338 square kilometres of seismic data that will focus on the proposed location for the Chikumbi-1 well in the Ntorya gas field in Tanzania. AGS intends to start activities in the location in October.
"The award of the seismic acquisition contract is exciting news and marks an important milestone for the Ruvuma project. Following the recent award of the two year licence extension, the project is now entering a period of operational activity designed to understand the full potential of the development - a key value inflection point," said Scirocco Chief Executive Officer Tom Reynolds.
Tanzania focused gas project developer Aminex PLC - which holds a 75% working interest through subsidiary Ndovu Resources Ltd - noted the awarded contract.
Shares in Scirocco Energy were 3.0% higher at 0.95 pence on Friday in London, while Aminex's shares were up 4.0% at 0.70 pence.
By Dayo Laniyan; [email protected]
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