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Monday, 3 June 2013

Mozambique to Offer New Oil & Gas Blocks

Mozambique is adding to its geological database with a view to launching new tenders for the licensing of oil and gas blocks later this year.

Macauhub quoted Mozambican National Oil Institute chairman Arsénio Mabote as saying that seismic and aeromagnetic surveys are being carried out, both onshore and offshore. The data gathered will be provided to companies interested in making tender proposals.

Mabote, while addressing an international conference on energy in Maputo, said that he had been asked on a regular basis to launch new tenders, and that the surveys being carried out would help companies to put forward more solid proposals.

Alongside the new tenders, legislation is under review with a view to accommodating gas projects, such as the LNG and coal gas industries.

Mabote added that from an oil and gas surveying point the country is vastly underexplored, given that over 170 Tcf of natural gas that has been discovered was found in just in a 50 km radius.

“We have a lot of mining resources, but if we could find oil that would be even better,” said Mabote, reiterating that the geological characteristics of the Mozambican coast point to the existence of liquid hydrocarbons.