First test well completed in Mozambique’s Rovuma sedimentary basin

4 January 2010

Maputo, Mozambique, 4 Jan – The first of three oil exploration wells in the Rovuma sedimentary basin has been drilled by the US company Anadarko, the newspaper Notícias reported Monday in Maputo.

The newspaper cites an unidentified government source who said it is too early to provide details about the drilling on land, as results are still being analysed.

Results of the search are anxiously awaited by the concession company and the government. The latter hopes the discovery of oil or gas will help lower the financial burden of liquid fuel imports, which currently stand at US$700 million per year.
The company is now drilling a second well, this time at sea, the same source said. Plans call for work on the third and last test well in this phase to begin later this month or early in February.

The drilling work follows a long process of seismic research that identified a geological area where hydrocarbons, especially petroleum, are likely to be found.
Due to its characteristics, Mozambique has been targeted by a great deal of investment for hydrocarbon exploration. In 2008 more than US$500 million was invested, while this year nearly US$300 million is expected.

The Rovuma basin is a vast area granted in concession to major companies.

Anadarko holds the Rovuma onshore concession, while Rovuma offshore is held by Anadarko, the Italian ENI, Statoil Hydro and Malaysia’s Petronas. (macauhub)