Mozambican state oil and gas company ENH to be transformed into an oil operator

24 June 2013

Mozambican state oil and gas company Empresa Nacional de Hidrocarbonetos (ENH) will be converted into an oil operator within a maximum of 30 years, the chairman of the company said in an interview with daily newspaper Notícias.

Nelson Ocuane, the chairman of the company that manages the State’s holdings in oil and gas projects, said that ENH planned to add value to the stakes it has in 11 surveying and exploration projects. It is also preparing to become an oil operator, which will happen with 25 or 30 years.

He also said that in terms of the Rovuma basin, the surveying projects led by the Anadarko Petroleum Corporation (Area 1) and by ENI (Area 4) were the most developed and that ENH had a 15 percent stake in each of them.

“In production we are involved in the Pande/Temane, project operated by Sasol and in this project ENH, through Companhia Moçambicana de Hidrocarbonetos, has a 25 percent stake,” he said.

The company has the same stake (25 percent) in the gas pipeline linking the Temane region, in Inhambane province, to South Africa, which is 875 kilometres long and is explored by South Africa’s Sasol (50 percent) and the South African government (25 percent).

According to Ocuane, investments in gas liquefaction units are expected to total between US$14 billion and US$20 billion over the next few years. ENH is expected to provide US$700 million if two units are built and US$1 billion if four units are built.

The chairman of ENH confirmed again that the company’s stake holdings were not for sale. (macauhub)