Petrovietnam wants to invest in Mozambican gas sector

23 September 2009

London, United Kingdom, 23 Sept – Vietnamese oil company Petrovietnam has said it is interested in investing in a gas pipeline in Mozambique as part of its strategic expansion in Africa, the Oil and Gas Journal reported.

The Journal said that the state-owned oil and gas company planned to invest US$85 million in a project related to the Pande Temane gas fields, in the Mozambican province of Inhambane.

The Oil and Gas Journal have no further details of the operation.

In Mozambique gas is only explored in Pande and is then sold on to South Africa.

The 10 groups operating in Mozambique in the oil and gas sector are set to invest around US$786 million in exploration by 2011.

Arsénio Mabote, chairman of the Mozambican National Oil Institute said that more public tenders would be launched before 2012 for oil and gas prospecting in the Rovuma area in northern Mozambique and in the centre of the country.

The Vietnamese company also recently made a deal in the areas of oil and gas with the Angolan government and is now looking at practical methods of cooperation to set up partnerships between companies from both countries. (macauhub)