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).

EXPLORATION company Aminex is to share the €10m plus cost of a double well drilling programme in Tanzania with the Romanian state oil company while keeping a 70% interest in the project.

OIL and gas company Aminex’s decision to farm out €7.5 million of the cost of drilling two oil exploration wells off the Tanzania coast is regarded as good news for the company by Davy stockbrokers.