Wentworth announced the results of an independent evaluation of the gas reserves within the Tanzania’s Mnazi Bay Concession, in which the company holds 31.94% ownership, Globo News Wire reported.
Wentworth’s Managing Director, Geoff Bury, stated that the report from RPS was consistent with 2016’s report, and showed an increase in Net Proved Developed Producing (PDP) reserves of 88% and 2P reserves increasing by 20%, Petroleum Africa informed.
The results are belived to strengthen the potential of the Mnazi Bay fields. Moreover, the company expects production volumes to materially ramp up in 2018 with the start-up of new power plants.
“With the successful performance of our existing wells and all the necessary infrastructure in place we look forward to sustained production from our valuable Tanzania asset,” Bury added.