Oil & Gas

Tanzania-focused junior oil and gas company Aminex is on the brink of a major turnaround, emerging from years of financial struggle that nearly pushed it into collapse. Executive chairman Charles Santos noted that the company has “turned a corner,” almost five years after it came close to shutting down, with optimism now centered on new developments.

The company is looking forward to first gas production in 2026 from the Ntorya project, a major gas field in southern Tanzania operated by Ara Petroleum. The Ntorya project is considered one of the most significant natural gas developments in the region and is expected to transform Aminex’s fortunes after years of delay and uncertainty.

Aminex had initially banked on revenues from its Kiliwani North gas field, which started production in 2016, to fuel further exploration and commercialization of discoveries such as Ntorya. At the time, Ntorya was estimated to hold 1.87 trillion cubic feet of resources, a volume large enough to make it a strategic asset for both the company and Tanzania’s broader energy agenda.

With fresh momentum, Aminex now sees itself moving from survival mode to growth mode, buoyed by its stake in Ntorya and support from its partnership with Ara Petroleum. The company’s revival not only marks a new chapter for Aminex but also signals a boost for Tanzania’s ambitions to expand its natural gas sector and attract further international investment.