Real size of natural gas reserves in Mozambique to be known within two years

27 May 2011

Maputo, Mozambique, 27 May – The real size of recent natural gas discoveries in the Rovuma basin in Mozambique will only be known in two years’ time when it is expected that all studies underway will have been concluded, said the chairman of oil and gas company Empresa Nacional de Hidrocarbonetos (ENH), Nelson Ocuane.

Speaking in Maputo at the launch of the celebrations of the 30th anniversary of ENH, Ocuane said that after preliminary studies were concluded the reserves would be certified to find out if they were economically viable, which would determine whether exploration would go ahead.

The chairman of ENH also said that so far over US$1.4 billion had been invested in hydrocarbon surveying and as far as 2010 the sector had provided US$79 million to state revenues, US$28 million in taxes on production and US$50 million in other taxes.

Cited by Mozambican daily newspaper, Notícias, Ocuane said that this was a substantial figure given that only one project was currently in production: the Pande and Temane natural gas project, in Inhambane province.

ENH was founded in 1981 as a state company and in 1997 became a public company and since then has been autonomous in its management. Its mission is to add value to natural resources by taking part in research, production, processing transport, distribution and sale of oil and gas. (macauhub)