Oil prospecting by Portuguese groups Galp Energia and Italy’s ENI in Mozambique expects to begin in September

17 June 2011

Maputo, Mozambique, 17 June – Portuguese oil group Galp Energia is due by September to start prospecting for oil in the Rovuma basin in northern Mozambique, the managing director of the Portuguese company in Mozambique, Carlos Bayan Ferreira said Thursday.

Galp Energia is involved in oil exploration in the Rovuma basin where it plans to develop a block in ultra-deep waters as part of a project shared with Italian group ENI, which has a 70 percents take in the operation.

Speaking to Portuguese news agency Lusa, Ferreira said that the start of the project, which had initially been set for May, but was later delayed until July, depended on the arrival of materials that would be used in prospecting operations.

The managing director of Galp Energia in Mozambique was speaking on the sidelines of the ceremony to launch the GALP/BCI Fuel Card. BCI is a Mozambican bank owned by Portuguese state banking group Caixa Geral de Depósitos (CGD).

Galp Energia started working in Mozambique four years ago after signing a contract with ENI and with Mozambican state oil company, ENH, for exploration of area 4, located in the ultra-deep waters of the Rovuma basin.

Other companies are already involved in oil and gas exploration of the six blocks in the basin including Anadarko Petroleum, of the United States, Malaysia’s Petronas, Norway’s Norsk Hydro and Italy’s ENI.

The contract outlines a prospecting period of eight years and a period of 30 years for the production phase. (macauhub)