Report estimates enhanced gas resource at Solo Oil’s Ntorya project

UK-based exploration and production company Solo Oil has reported a resource upgrade of the gas discovery at the Ntorya in Tanzania.

The resource upgrade is the result of an independent competent persons report (CPR) by RPS Energy Consultants (RPS).

Taken together with the Ntorya gas commercialisation study prepared last year by io oil & gas consulting, the latest resource upgrade points to the commercial feasibility of a proposed development at Ntorya, according to Aminex, the operator of the field.

Based on the latest findings, Ntorya 2C contingent resource estimate has increased to gross 763 billion cubic feet (bcf), which represents an increase of more than ten times the CPR prepared in 2015.

Furthermore, the report has upgraded Ntorya Pmean gross gas initially in place (GIIP) to 1.87 trillion cubic feet (tcf), which is an increase of 44% on previous management estimate of 1.34tcf.

Solo Oil executive chairman Neil Ritson said: “A further significant and material resource upgrade made independently by RPS supports the company’s view that Ntorya is a major gas field within the regional market, thereby underpinning our development plans.

“The independent verification of our net interest equivalent to over 30mmboe underlines the significant value of Ntorya within our portfolio.

“When taken with the results of the io consulting commercial feasibility study, we are now confident that Ntorya can be economically produced with limited further major capital expenditure.”

The company is planning to drill the appraisal well Ntorya-3 later this year.

According to io consulting, the partners can proceed with the Ntorya gas development project with three wells developing into a raw-gas pipeline to the Madimba gas plant, located around 33km away.

Solo Oil holds a 25% interest in the project, while the remaining 75% stake is held by Aminex.