This extension is to cover the likely eventuality that the Nyuni-2 well, due to be spudded in the next few weeks, will not be completed within the life of the existing Nyuni PSA which expires this year.
The grant comes after the government signed a 25-year development license for the Kiliwani North Gas field, carved from the Nyuni PSA.
Terms for a new and expanded PSA to replace the expiring Nyuni PSA have been negotiated and agreed and are expected to be formally concluded in due course.
The project is managed by Aminex subsidiary Ndovu as operating partner of a consortium which includes RAK Gas Commission, with 25%, Key Petroleum (5%) and Bounty Oil (5%).
