13th Jan 2016 10:56
LONDON (Alliance News) - East Africa-focused oil and gas company Wentworth Resources Ltd on Wednesday said the ramp up in gas production from its Mnazi Bay project in Tanzania faced delays in the fourth quarter, but it expects these issues to subside in the first quarter of 2016.
Wentworth said its gross gas production into the pipeline and directly to a power plant in Mtwara averaged 46 million cubic feet of gas per day, with production rising to 55 million cubic feet by December.
The ramp up in production has been hit by delays in commissioning the new Kinyerezi power plant and the conversion of the Ubungo power plant in the local area. But Wentworth said those delays are expected to be short-term and all the power generation facilities due to use gas from Mnazi Bay will be operational in the first quarter.
As a result, its expects gas production volumes from Mnazi Bay to reach 70-80 million cubic feet per day in the first quarter and to remain around this range thereafter.
Shares in Wentworth were down 2.2% to 28.35 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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