Mozambique plans to auction 12 new oil blocks for prospecting

17 October 2012

The Mozambican government plans to auction off 12 new blocks for oil prospecting in mid 2013, the country’s deputy Mining Resources Minister, Abdul Razak Noormahomed, told financial news agency Reuters.

On the sidelines of the Petrotech energy conference, in New Delhi, Inocência Maculuve, a geologist from the National Oil Institute said that at least three of the 12 blocks would be in the Rovuma basin, a region in which US company Anadarko Petroleum and Italy’s ENI have so far found 130 trillion cubic feet of natural gas.

The National Oil Institute (INP) is the oil and gas sector regulator in Mozambique and manages auctions and concession of oil prospects. It previously announced that interest had been shown by companies such as ENI, Exxon Mobil, Petromas, Royal Dutch Shell, Tullow Oil, Vitol and Noble Energy.

The Mozambican authorities said that they were looking to attract companies that had the necessary technical and financial capacity, and that would also help Mozambique to develop an industrial sector driven by natural gas. (macauhub)