20th Aug 2015 15:53
LONDON (Alliance News) - East Africa-focused oil and gas company Wentworth Resources Ltd said Thursday that gas deliveries have now begun to the new transnational pipeline in Tanzania from its operations.
Two wells are now producing at the Mnazi Bay Concession, Southern Tanzania, and the remaining three wells will be put on production in the coming months, the company said.
The company and its joint venture partners have agreed payment security terms with Tanzania Petroleum Development Corp, the buyer of the gas.
"We are very pleased to announce that production from Mnazi Bay has now commenced and the Mnazi Bay joint venture is the first supplier to the new transnational pipeline in Tanzania," said Managing Director Geoff Bury in a statement.
Shares in Wentworth closed down 1.1% at 30.17 pence Thursday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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