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    Tanzania 'to Approve Ruvuma Farm-in'


Aminex says it has the final document needed for the energy minister to approve the ARA farm-in.

by: William Powell

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Tanzania 'to Approve Ruvuma Farm-in'

UK producer Aminex expects soon to proceed with the Ruvuma farm-out agreement with ARA Petroleum Tanzania (APT), it said May 19, following the Tanzanian government's final approval. Both sides have paid capital gains tax and stamp duty respectively, leading to the issue of a tax certificate for submission to the upstream regulator, the energy ministry, by way of the state Tanzania Petroleum Development Corp.

Aminex said it has now completed all the requirements to allow the minister to grant approval of the assignment of the 50% interest in the Ruvuma PSA to APT. Aminex' partner is Solo, with the remaining 25%, which expressed surprise last November at cash calls from Aminex to fund fast-track activities it said it had not been made aware of.