Tanzania: TPDC to exercise back-in right on Kiliwani North

Tanzania Petroleum Development Corporation (TPDC) has notified operator Aminex that it plans to take a 5% working interest in the Kiliwani North development licence. Under the terms of the Nyuni East Songo-Songo production-sharing agreement which governs the Kiliwani North licence, TPDC has the right to take up 5%, in exchange for reimbursing the joint venture partners with the parastatal’s proportionate share of development capital expenditure on the licence to date. On conclusion of the back-in, Aminex’s interest will fall to 55.575% from 58.5% now.