Rosneft to enter Mozambique oil and gas sector?

Rosneft President, Chairman of the Management Board Igor Sechin and Minister for Foreign Affairs of the Republic of Mozambique Oldemiro Julio Marques Baloi held a working meeting 22 April in Moscow.

The parties discussed a wide range of issues, including possible involvement of Rosneft in production projects in Mozambique.

In 2010-2011, a number of major shelf gas resources was discovered in the Republic of Mozambique. Gas prevails in the hydrocarbon portfolio of the Republic: shelf resources – 3.7 trillion m3, and proved reserves as of the beginning of 2014 – 1.03 trillion cubic meters.

The key gas potential of the country is concentrated in the Rovuma basin, which resources are estimated at 2.2 trillion cubic meters, and in the basins of the Mozambique river (3 continental deposits with proved gas reserves up to 95 billion cubic meters, and one shelf deposit with resources up to 56 billion cubic meters).

Current production in the country is carried out at two fields in the south of Mozambique, the Pande field and the Temane field. The production volume is 4 billion cubic meters per annum.

Press Release, April 23, 2014

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