Malaysian oil company Petronas launches tender for start of oil exploration in Rovuma basin, Mozambique

26 August 2011

Maputo, Mozambique, 26 Aug – Petronas Carigali Mozambique by the beginning of 2012 plans to launch a tender to select the company that will carry out the study to define the location of oil test wells in the Rovuma basin in northern Mozambique, Mozambican newspaper Notícias reported Friday.

Petronas Carigali Mozambique E&P, a subsidiary of Malaysia’s Petronas Carigali Overseas, has an area of 7,000 square kilometres in the Rovuma Basin where it has been carrying out geological and seismic studies.

The Mozambican government in 2008 issued an oil prospecting license to a consortium led by Petronas to prospect for oil in two offshore blocs in the Rovuma basin and in return the concession-holder paid US$40.6 million.

Petronas Carigali Mozambique E&P has a concession to explore the area for a period of 8 years, renewable for another 30, if oil is found. The Mozambican state is represented in the project by oil and gas company Empresa Nacional de Hidrocarbonetos (ENH).

Between 2009 and 2010 oil companies invested over US$370 million in oil prospecting work in the Rovuma Basin. (macauhub)