The Mozambican government is evaluating the development plan for the Golfinho-Atum natural gas exploration project in the Rovuma basin presented by US group Anadarko Petroleum, said the president of the National Oil Institute (INP).
Carlos Zacarias also told Mozambican newspaper Notícias that approval of this plan, which is expected to happen in the first half of the year, is crucial for a final investment decision for a project estimated at US$25 billion.
The President of INP said that the plan is being analysed by the INP and other relevant entities to determine whether or not it is in compliance with current legislation and with industry good practices.
The Coral Sul project of Italian ENI group was designed to produce 3.3 million tons of natural gas, while the Anadarko Petroleum project aims to extract and process 12 million tons of natural gas per year, which requires a larger investment.
Zacarias said that in order to secure financing, it is first necessary to sign long-term supply contracts. One of the partners in the Area 1 block is one of the buyers, Thai state group PTT, and advanced negotiations are also underway with buyers from Japan, China, and other Asian countries.
“We believe the beginning of the production and export of the natural gas in the Rovuma basin will be in late 2022 or early 2023,” he concluded.