Mozambique Oil & Gas: ENH seeks to raise US$2 billion on international markets

Omar Mitha
Omar Mitha is the new CEO of ENH – Empresa Nacional de Hidrocarbonetos

Mozambique’s national oil and gas company ENH has hired Lazard Frères SAS and Lion’s Head Global Partners to raise US$2.0 billion on international markets to be applied to two natural gas exploration projects in the north of the country, said the chairman of the state company in an interview with Bloomberg.

Omar Mithá said that the company will start contacts with potential investors in May, under a programme of meetings to be held in Asia, the Middle East and South Africa, adding that it is “extremely urgent.”

Lazard Frères SAS will provide advice on the Area 4 project being developed by Italian group ENI, Lion’s Head Global Partners will focus on the Area 1 project, operated by US group Anadarko Petroleum, and ENH will also hire French bank Société Générale for the latter project.

ENH has a 10% stake in the project operated by the ENI group and 15% in the Anadarko Petroleum project.

Lazard Frères SAS has been providing financial advice to the Mozambican Ministry of Finance on the restructuring of foreign debt, namely a US$2 billion tranche contracted by three state-owned companies. (source: Macauhub)

 

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