Project Profile
Value: US$150 Million.
Location: Nampula Province, Mozambique.
Area of Basin: 60,000 square kilometres.
Discovery Year: 2014
Drilling began: 2015 (of Tembo-1 well)
The Rovuma basin is located in the provinces of Nampula and Cabo Delgado. The basin covers an area of 60,000 square kilometres with most of the exploration concentrated on offshore sites. The Rovuma onshore Block has a size of about 15,000 square kilometres. It is situated in the hydrocarbon prospective Rovuma Basin in Northern part Mozambique. The block also furnishes Artumas with a strategic concession which is surrounded by major international oil and gas companies. The onshore block immediately offsets the Company’s Mnazi Bay Concession.
The onshore Rovuma Concession exploration license expired on August 31, 2015. Prior to the expiry of the license, Wentworth informed the Mozambique government of an intention to appraise the natural gas discovery in the Tembo-1 well. However, in June 2016 Wentworth Resources received approval for appraisal of Tembo-1 gas discovery. The implementation of a work program will commence in 2016 with the reprocessing of approx. 1,000 km of existing seismic data, the cost of which will be funded from internally generated cash flow. Commencing the second half 2017, the Company plans to acquire a minimum of 500 km of new onshore 2D seismic data. The drilling of an appraisal well is anticipated to occur in 2018 after the identification of a suitable drilling location based on the evaluation and integration of the new and existing seismic data.
As of June 2016 Wentworth became the Operator of the Rovuma onshore Concession and increased its participation interest in the Concession from 11.59% to 85%. State owned Empresa Nacional de Hidrocarbonetos (\'ENH\') retains a 15% participation interest as a carried partner through to the commencement of commercial operations.
Operators:
Empresa Nacional de Hidrocarbonatos de Mozambique: 15% interest
Wentworth Ltd.: 85% interest