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The Mozambican state has provided state guarantees to Empresa Nacional de Hidrocarbonetos (ENH) to allow the state-run oil company to secure a loan that in international markets to cover its participation in natural gas projects in the Rovuma basin, in the northern province of Cabo Delgado.`
ENH also plans to raise 136.13 billion meticais (US$2.195 billion) for its contribution related to the 15% stake it holds in the Area 1 block, whose operator is US group Anadarko Petroleum.
Mozambican daily newspaper Notícias reported that this government decision aims to facilitate the final investment decision, which is expected to be taken by the consortium in the first half of 2019.