The search for oil in the Buzi exploration block in Sofala province has entered a decisive phase, with the operator about to announce the start of drilling operations to determine the actual availability of oil in the area.
A government source has told Noticias that, initially, three exploration holes will be sunk in the research areas, with the process due to start later this year and last until the beginning of next.
The Buzi block is located in Mozambique’s sedimentary basin, so far one of the least-explored regions from the point of view of hydrocarbon potential.
Natural gas was discovered in Buzi block in the 1960s by US multinationals but the amounts identified were considered commercially non-viable. The Government subsequently concessioned the area to an Indonesian company for further studies.
Working in partnership with the National Hydrocarbon Company (ENH), the company has conducted seismic studies and environmental impact assessments to establish the necessary basis for the development of exploration wells.
The only commercial exploitation of natural gas in Mozambique’s sedimentary basin is currently being carried out by Sasol, in the Pande and Temane fields in Inhambane province in particular. Most of the gas recovered is exported to neighbouring South Africa.
Sasol has recently announced the discovery of more gas in the Inhassoro region, also in Inhambane province.
Data compiled by Noticias indicates that natural gas exploitation in Buzi is economically viable, with estimated reserves of at least 1.5 trillion cubic feet (TCF), enough to satisfy all domestic consumption needs, including electric power generation.
Overall, Mozambique has gas reserves estimated at over 200 trillion cubic feet, placing the country among the three largest hydrocarbon producers in the world. (source: Noticias)