Maputo, Mozambique — 20 March 2013 – The next tender for oil and gas prospecting and production in Mozambique will only be launched after approval of the Oil Law review and its regulation by the country’s parliament and government.   

Daily newspaper Notícias “’ cited by Macauhub News Agency “’ reports that natural resources minister Abdul Razak is of the opinion that interest in Mozambique from the international oil industry remains “quite strong” and that several companies are waiting for new public tenders to be launched to bid for new prospecting areas.

“We hope that by the end of this year, following the review and update to current oil legislation, a new tender will be announced that will offer new opportunities for oil and gas prospecting and production in Mozambique,” said Razak.

He also noted at last week’s international gas conference in the Mozambican capital that there were some sedimentary basins that had yet to be explored, such as lake Nyassa.

Although this basin has already been the focus of a dispute between Mozambique’s neighbours Tanzania and Malawi, on the Mozambican side there has been no concession of areas for oil and gas research so far, as the government’s priority has been the Rovuma basin.

The Oil Law review (Law 3/2001) is intended to introduce regulations on natural gas liquefaction as an oil operation, as well as non-conventional natural gas exploration, such as the methane associated to coal, which have taken on an importance that they did not previously have.

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