Mozambique approves plans for onshore oil prospecting

oil pump sunset

The Mozambican government has approved the assessment plan put forward by Wentworth Resources for onshore oil prospecting at a concession in the north of the country, the company said in a statement issued Wednesday.

The government, via the Ministry of Natural resources, also approved the company’s status as the block’s operator by increasing its stake in the project from 11.59 percent to 85 percent. The remaining 15 percent will remain the hands of state company Empresa Nacional de Hidrocarbonetos (ENH).

The prospecting programme is due to begin before the end of the year with another analysis of existing seismic data. This will be followed, in 2017, with gathering new 2 dimensional seismic data and in 2018 by drilling a well once the appropriate location has been identified.

In December 2014 the company discovered natural gas in the Tembo-1 well after drilling to a depth of around 4,400 metres.

The consortium initially involved in this concession, as well as Wentworth resources (11.59 percent) included US group Anadarko Petroleum, French group Maurel et Prom, Thai state company PTTEP and Mozambican state company ENH.

Wentworth Resources is a company listed on the London and Oslo stock exchanges involved in exploring oil and gas resources in the Rovuma basin, in northern Mozambique and southern Tanzania.

Source: macauhub