Oil and gas firm Aminex ‘consolidates position in Tanzania’ with EAX deal

AMINEX, the international oil and gas exploration company, has announced a deal to increase its stake in the Nyuni Production Sharing Agreement off the coast of Tanzania by 10% to 50% after agreeing terms with East African Exploration Ltd (EAX).

The Dublin registered company – which is headquartered in London – will basically swap its 25% stake in two blocks (L17 and L18) in Kenya, in which EAX is also a participant, for the enlarged Tanzania share.

A cash payment of $1 million (€700,000) will also be paid to EAX. The Nyuni PSA also includes a 40m cubic feet gas discovery at Kiliwani North, previously made by Aminex.