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RUSSIA EYES MOZ RESOURCES: Rosneft in Gas Talks with Mozambique Minister

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Rosneft President Igor Sechin and Minister for Foreign Affairs of Mozambique Oldemiro Julio Marques Baloi, held a meeting in Moscow on Tuesday.

The parties discussed a wide range of issues, including possible involvement of Rosneft in production projects in Mozambique,” Rosneft said in a statement.

A number od major shelf gas resources in the Republic of Mozambique was discovered in 2010-2011. Gas prevails in the hydrocarbon portfolio of the Republic: shelf resources – 3.7 trillion m3, and proved reserves as of the beginning of 2014 – 1.03 trillion cubic meters.

The key gas potential of the country is concentrated in the Rovuma basin, which resources are estimated at 2.2 trillion cubic meters, and in the basins of the Mozambique river (3 continental deposits with proved gas reserves up to 95 billion cubic meters, and one shelf deposit with resources up to 56 billion cubic meters).

Current production in the country is carried out at two fields in the south of Mozambique, the Pande field and the Temane field. The production volume is 4 billion cubic meters per annum.

Press Release, April 23, 2014; Image: Rosneft
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