Rosneft keen on expanding Mozambique portfolio, CEO Sechin says

Russian oil and gas giant Rosneft is looking at potentially expanding its foothold in gas-rich Mozambique.

The company’s representatives have this week signed cooperation agreements with Mozambique’s National Petroleum Institute and National Hydrocarbon Company, during the official visit the President of Mozambique Filipe Nyusi to Russia.

According to Rosneft, the cooperation agreement was signed by Chief Executive Officer of Rosneft Oil Company Igor Sechin and Chairman of INP Carlos Zacarias.

Furthermore, Rosneft has signed a Memorandum on Expansion of cooperation in Mozambique with the National Hydrocarbon Company (Empresa Nacional de Hidrocarbonetos, ENH).  The document was signed by Igor Sechin and Chief Executive Officer of ENH Omar Mitha.

The document exchange ceremony was held in the presence of President of the Russian Federation Vladimir Putin and President of Mozambique Filipe Jacinto Nyusi.

According to Rosneft, Rosneft will be granted the right to study available geological data on a number of onshore and offshore blocks in Mozambique in order to examine their potential; and the opportunity to enter the projects on those blocks in the future.

Chief Executive Officer of Rosneft Igor Sechin noted: “Mozambique is one of the perspective areas of the Rosneft’s international business. We are keen on further expanding the project portfolio in the country. I sincerely hope that the agreements signed today will contribute to that.”

In late 2015, Rosneft and ExxonMobil were declared winners for three blocks in the fifth license round organized by INP. Rosneft and ExxonMobil were awarded three license areas: A5-B in the Angoche Basin, and Z5-C and Z5-D in the Zambezi Delta. In October 2018, the consortium where Rosneft holds 20% signed concession agreements for the exploration and production of hydrocarbons on the three areas with the Government of Mozambique, and the companies started exploration works.

The year 2019 has been fruitful when it comes to development of gas resources found offshore Mozambique.

The government of Mozambique in May approved the development plan for the Rovuma LNG project led by Exxon and Eni. Two liquefied natural gas trains are planned with a combined annual capacity of over 15 million tons.

LNG production from the project is expected to begin in 2024.

Also, U.S. oil and gas firm Anadarko in June made a final investment decision for the development of Mozambique’s Offshore Area 1 via the $20 billion Area 1 Mozambique LNG project.

This will be Mozambique’s first onshore LNG development, initially consisting of two LNG trains with a total nameplate capacity of 12.88 million tonnes per annum (MTPA) to support the development of the Golfinho/Atum fields located entirely within Offshore Area 1.

As Offshore Energy Today previously reported, the project is expected to be taken over by France’s Total.

Anadarko has recently been acquired by Oxy who agreed to sell Anadarko’s  Africa assets – including the Mozambique LNG project – to France’s Total in an $8.8 billion deal.

Offshore Energy Today Staff


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