Maputo, Mozambique, 1 April – The Mozambican Government Tuesday approved a diploma to boost the national private sector and promote foreign investment in oil surveying and production.
The Strategy for the Concession of Areas for Oil Operations outlines the areas available for public tender, the schedule for the tenders and the areas subject to surveying and production contracts, said government spokesman, Luis Covane, deputy minister of Education and culture.
Mozambique, he said, had 600,000 square kilometres of sedimentary basins, which are excellent for prospecting, initial investigations of which were carried out in the 1950s, and resulted in discovering two reserves.
“From 1975 to now 124 test wells were drilled, which resulted in discovering two more fields,” he said, adding that there were currently 13 contracts for oil surveying and production. (macauhub)