Aminex shareholders approve agreement with Omani conglomerate

Shareholders in Dublin-listed oil and gas exploration company Aminex approved the divestment of a 50 per cent stake in a gas asset in southern Tanzania.

At an extraordinary general meeting (EGM) held on Friday, the farm out of the interest in the Ruvuma field to Omani industrial conglomerate The Zubair Corporation was approved.

Some 99.74 per cent of shareholders agreed to sell the 50 per cent stake, which brings Aminex’s interest in the prospect to 25 per cent.

The explorer, which is listed on both the Irish and London stock exchanges, signed a farm out agreement related to its flagship Ntorya project in Tanzania which will see it receive a cash payment of $5 million (€4.25 million) in two tranches.