Andarko’s third
discovery well in
Mozambique’s
Offshore Area 1
 
Maputo, Mozambique — 26 April 2012 – Major US oil company Anadarko Petroleum is due to sign a contract in May to carry out engineering studies for the liquefaction project for the natural gas found in the Rovuma basin, in Mozambique.

Citing daily newspaper Notícias, the Macauhub News Agency quotes company vice-president Robert Daniel as noting that signing the contract was the first step in moving ahead with exploration of the natural gas discovered in Area 1 of the Rovuma basin.

Speaking at the 3rd International Conference on Mines, Energy and Hydrocarbons “’ a meeting that brought together companies from over 40 countries “’ Daniels said that sufficient reserves had been identified in the basin to set up six natural gas processing units.

He revealed that initially two units would be built with capacity to process 5Mt of gas each which, as well as supplying the Mozambican market, would export the product to countries in the region and other parts of the world “’ notably Asia and America.

Overall investments by the US company in Mozambique are expected to total a minimum of US$14 billion by 2018, and the company has already invested US$800 million.

The gas discoveries in the Rovuma basin currently stand at 70 trillion cubic feet, 40 trillion of which are the responsibility of Italian petrochemical group ENI and 30 trillion are attributed to Anadarko Petroleum.

Source: Macauhub News Agency. For more information, click here.