Gas exploration in Inhambane province provides Mozambique with US$40 million

15 June 2009

Maputo, Mozambique, 15 June – Natural gas and condensate exploration in Pande and Temane, in Mozambique’s Inhambane province, have so far provided the Mozambican state with around US$39.5 million, Mozambican newspaper Notícias reported.

The paper said that the figure was made up of taxes charged on gas and condensate production, in the amount of US$12.6 million, company taxation (IRPC) of US$23.4 million, individual taxation (IRPS) of US$1.3 million and other contributions of around US$2.2 million.

So far around 348.8 million gigajoules (gj) of natural ags have been produced at Pande and Temane, of which 334.2 million gj were exported and 2.2 million barrels of condensate for export.

The Mozambican government recently approved the expansion of the Panda and Temane natural gas facility, increasing production from 120 million gj per year to 183 million gj per year as of 2010.

A source from the Ministry for Mining Resources told the paper that added to tax revenues were the State’s gains from its direct share in the facility via national oil and gas company Empresa Nacional de Hidrocarbonetos (ENH), and Companhia Moçambicana de Hidrocarbonetos (CMH) as well as state holding company Igepe.

In order to strengthen the State’s stake in oil and gas, ENH also has stakes in various concession contracts, and was recently granted the right to exploration in the Búzi block in Sofala province. (macauhub)