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Wentworth signs gas sales agreement for Mnazi Bay and Msimbati gas fields Tanzania


Published Sep 16, 2014
Wentworth Resources Limited-2

Wentworth has signed a gas sales and purchase agreement (Mnazi Bay GSA) with TPDC, along with Mnazi Bay license partners Maurel et Prom (M&P) and Tanzania Petroleum Development Corporation (TPDC) (together the "Mnazi Bay Partners"). The Mnazi Bay GSA covers the long-term sale of natural gas from the Mnazi Bay and Msimbati fields in southern Tanzania to the Government owned and operated Mtwara to Dar es Salaam pipeline and Madimba central processing facility ("Pipeline Project"), which is currently under construction and scheduled for completion and commissioning in Q1 2015.

Pursuant to the Mnazi Bay GSA, the Mnazi Bay Partners are contracted to supply to the Pipeline Project up to a maximum 80 mmcf/day of natural gas during the first eight months with an option to increase over time to a maximum 130 mmcf/day of natural gas for up to a 17-year supply period. The Mnazi Bay GSA is subject to certain conditions, including the Tanzanian Government providing all necessary approvals and an executed version of payment security agreements prior to delivery of first gas.

Tags: Maurel & Prom, Wentworth Resources Limited




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