Aminex to start gas production at flagship field in Tanzania

Dublin-listed oil and gas firm Aminex says it is ready to start gas production from its Kiliwani field in Tanzania.

Aminex chief executive Jay Bhattacherjee said he expected output from Kiliwani North to commence this quarter in line with the timetable issued by the Tanzanian authorities.

His comments were contained in the company’s latest results which show it reduced pre-tax losses to $606,000 for the six months to the end of June, down from $5.8 million for same period last year.

The reduction was achieve through a sharp cut in overhead costs and the gain of $0.9 million from the part disposal of the Kiliwani gas field.

Net debt was $4.2 million compared to $4 million at the end of the same period last year.

During the period, the group raised $3.5 million and extended the corporate loan to the end of January 2016.