Six more foreign companies or consortiums plan to prospect for oil in Mozambique

18 June 2010

Maputo, Mozambique, 18 June – Six foreign companies or consortiums have presented proposals for the 4th public tender for concession of hydrocarbon surveying and production areas in several Mozambican regions, the National Oil Institute (INP) said in Maputo.

Proposals have been put forward by Aguia Energy (consortium made up of Tiou Energy and Saber Energy Group of Australia), which plans to explore areas in the lower and mid Zambezi and Maniamba, CH – Swiss Oil Holdings International (with capital from the United States and Mauritius) – for the areas of Mazenga and Limpopo and DNO International ASA of Norway, for the areas in the lower Zambezi.

Proposals were also presented by New Age (African Global Energy), from Jersey/United Kingdom, for the areas of Banhine and Palmeira, Sasol Petroleum International, of South Africa, for the ares of Mazenga and Banhine and Touchstone Oil and Gas Ltd, of Canada, for the Mazenga area.

“As part of this competitive process the next step is to assess the proposals based on the criteria presented, which include technical skills and capabilities, financial stability, as well as economic terms offered to the Mozambican state,” said the INP statement adding that publication of winning proposals would likely take place before the end of September.

The tender that is now coming to a close was launched on 4 November, 2009, and INP said at the time that companies had around 7 and a half months to assess the areas on offer and put together proposals for their concession.

Currently around 10 multinational oil companies are involved in survey and prospecting work in Mozambique.

Surveying and prospecting work is most intense in the Rovuma Basin, in the region between the north and centre of the country, where Petronas (Malaysia), Artumas (Canada), WNI (Italy), Anadarko (US) and Norsk Hydro (Norway) are currently working.

Since 2006, over US$500 million has been invested in surveying and prospecting for hydrocarbons, a figure that is likely to increase over the next few years. (macauhub)