Indonesian investment in Mozambique reaches US$180 million

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Indonesia investment in oil and gas in Mozambique until the end of 2015 totalled around US$180 million, focusing on natural gas, said the Indonesian Ambassador, Harbangan Napitupulu, at a meeting with Mozambican President Filipe Nyusi.

Harbangan Napitupulu, Indonesian Ambassador to Mozambique
Harbangan Napitupulu, Indonesian Ambassador to Mozambique

The diplomat, presenting farewell greetings to the President of Mozambique, noted that Besmindo Pemba Semesta, established in Pemba, in the northern province of Cabo Delgado, and Buzi Hydrocarbons Pte Ltd. (BHPL), in Sofala province, had invested US$175 million.

BHPL plans to drill for natural gas in the Buzi block, located along the Mozambique sedimentary basin to ascertain the potential for hydrocarbons.

If prospecting and further exploration are successful, BHPL, which holds 75 percent of the rights to the Block, expects commercial production can begin in 2018.

The outgoing ambassador also reiterated Indonesia’s wish to strengthen economic relations with Mozambique.

Source: Macauhub