ARA Petroleum Tanzania (APT) was established in 2018 to accelerate the development of the Ntorya area. After the farm-in APT will hold a 50% working interest, become the Operator and conduct a minimum work program. The work program will consist of drilling and testing the Chikumbi-1 well as soon as reasonably practicable in addition to acquiring a considerable quantity of 3D seismic data.
Once the data has been acquired and analysed it is likely that APT will prepare a Field Development Plan (FDP) and after approval from the various authorities in Tanzania commence the development. ARA Petroleum very much looks forward to working with the various bodies in Tanzania in an effort to mature this very promising asset at the earliest possible opportunity.