Mozambique Oil & Gas: Goverment analyzing Anadarko’s US$25 billion Development Plan

The Mozambican government is evaluating the development plan for the Golfinho-Atum natural gas exploration project in the Rovuma basin presented by the US group Anadarko Petroleum, said the  Chairman of the National Petroleum Institute (INP), Carlos Zacarias.

Zacarias also told the Mozambican newspaper Notícias that approval of this plan, which is expected to happen in the first half of the year, is crucial for a final investment decision for a project estimated at  US$25 billion.

The INP Chairman also stated that the plan presented is being analyzed by the INP and other relevant entities to determine whether or not it is in compliance with the legislation in force and with the good practices of this industry.

The Coral South project of the Italian ENI group was designed to produce 3.3 million tonnes, while the Anadarko Petroleum project aims to extract and process 12 million natural gas per year,  the reason why it requires a larger investment.

Zacarias said that in order to secure such financing, it is first necessary to sign long-term supply contracts. It is already known that one of the partners in the Area 1 block is one of the buyers, the Thai state group PTT, following advanced negotiations with buyers from Japan, China and other Asian countries.

“We believe in the beginning of the production and export of existing natural gas in the Rovuma basin in late 2022 or early 2023,” he concluded. (source: Macauhub)