MAPUTO, MOZAMBIQUE: Mozambique has issued a US$40.6 million oil prospect license to a joint venture led by Malaysian company Petronas.
The license for two offshore blocks was issued under the country's second licensing round. Government spokesman Luis Covane told Reuters: "The government today issued an oil license to Petronas Carigali Mozambique to search for oil in block 3 and 6. The license is valid for eight years and could be renewed for a further 30 years, if oil is found." Petronas holds a 90 percent stake in the company, with 10 percent held by Empresa Nacional de Hidrocarbonetos de Mocambique (ENH), Mozambique's national hydrocarbons company.The two blocks are in the Rovuma Basin, near the border between Mozambique and Tanzania. The Rovuma Basin lies both onshore and offshore, in an area 400 kilometers by 160 kilometers (250 miles by 100 miles). The offshore area of the basin includes with Ibo High horst trend, which has multiple reservoir objectives. Water depths range from 550 meters to 770 meters (1,804 ft to 2,526 ft).
Read More
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment