US group Anadarko Petroleum estimates that the proposed extraction of natural gas in Mozambique could begin in 2022 or 2023 and a final investment decision be made in 2017, said the chief executive of the oil company.
Al Walker told the Houston Chronicle that the final investment decision of at least US$15 billion in the Rovuma basin in northern Mozambique, aims to take advantage of the next cycle of rising commodity prices, according to Mozambican daily newspaper Noticias.
“Our hope is that we can move very quickly,” said Walker, noting that consulting firms in the energy sector estimate that at the beginning of the next decade demand and natural gas prices will be significantly higher than at present.
The President of Mozambique met last week with the chief executive of Anadarko Petroleum in Houston, Texas, as part of a visit to the United States that led to meetings with the director general of the International Monetary Fund and the US Secretary of State, John Kerry.
The Anadarko Petroleum group leads one of the two blocks in the Rovuma basin, in Cabo Delgado province, where they found large deposits of natural gas but, like Italian group ENI, which is the operator of another block, has yet to make a final investment decision. (macauhub/MZ)