Africa Oil & Gas: “Tanzania improves payments” – Wentworth

TanzaniaPertamina’s junior partner in the Tanzanian producing gasfield of Mnazi Bay has pointed to a big improvement in the punctuality of payments by gas offtakers there.

Indonesian state Pertamina’s junior partner in the small southern Tanzanian producing gasfield of Mnazi Bay has seen a big improvement in the punctuality of payments by its gas offtakers.
 

Oslo and AIM-listed Wentworth Resources said December 20 it has already received December payments from its two state-owned customers Tanzania Petroleum Development Corporation (TPDC) and Tanzania Electric Supply Company (Tanesco), that bring net payments to Wentworth during 2017 to a total of $2.5mn, and which represent “further evidence of TPDC and Tanesco’s commitment to continue to settle invoices on a regular monthly basis.”

Wentworth also reported that gas delivery has begun to Tanzania’s newest power facility, Kinyerezi-2 for commissioning of the first two of six gas turbines. Kinyerezi-2 is expected to add 36mn ft3/d to the national daily gas supply once it becomes fully operational during 2018; the new 240-MW plant is 30 km southwest of Tanzanian capital Dar es Salaam.

Wentworth said it continue to maintain 2017 full year production guidance of between 40 and 50mn ft3/d gross gas sales from Mnazi Bay at 100% equity.

Mnazi Bay licensees are operator Maurel & Prom 48.06% – since earlier this year owned by Pertamina – Wentworth 31.94% and TPDC 20%. As recently as five weeks ago, Wentworth said it was continuing to receive payment for its gas between four and five months in arrears from Tanesco, the main purchaser of Mnazi Bay gas. source: NWG

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