Wentworth Resources PLC (LON:WEN)


Wentworth Resources is a Jersey-based independent oil and gas business, operating in Tanzania since 2004 from its core Mnazi Bay asset that is low cost, onshore producing gas field in the Rovuma Basin of East Africa. The company aims to empower people with energy by leveraging the power of natural gas to achieve sustainable growth and to meet the changing energy needs of the country with the motive to deliver high return to its stakeholders. The company’s growth strategies are to increasing the production output by working with Mnazi Bay partners, actively monitoring the shift in demand and quickly responding to fulfill it, identifying new opportunities for expanding, partnering with the government, operating sustainable business. The company is listed on the London Stock Exchange as LON: WEN and is a part of the Alternative Investment Market (AIM).

The Mnazi Bay is an onshore domestic gas asset of the company that is located onshore in the Mtwara region of Southern Tanzania covers approx 756 sq km area. The Mnazi Bay asset is operated by the joint venture of Maurel & Prom that holds 48.06% stake with Tanzania Petroleum Development Corporation that holds 20% and Wentworth Resources that holds 31.94% of stakes under the Mnazi Bay Production Sharing Agreement. The natural gas from the Mnazi Bay is supplied to largest pipeline in East Africa, The National Natural Gas Infrastructure Pipeline (NNGI). It produces 30% of Tanzania’s natural gas that powers 50% of country’s energy output.

The company believes that the natural gas can help to power Africa’s long term ambitions and its rich supply and low cost makes it an attractive solution for Africa’s emerging economy. The Africa’s population is the fastest growing population in the world with lowest global energy access rates and Tanzania pays the strong economic role in the region. Tanzania has saved billions of dollars by switching to natural gas which will encourage the economic growth of the region in future.

Contact Information

company address 4th Floor, St Paul’s Gate 22-24 New Street- Jersey JE14TR

company phone+44.118.2062982

company websitehttps://wentplc.com/

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