Mozambique offers oil & gas licenses

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Mozambique offers oil & gas licenses

Mozambique, through its regulatory agency, the Institute of National Petroleum (INP), has issued a competitive tender process for 15 oil & gas exploration licenses.

The 15 oil & gas exploration licenses involve a total area of 76,800km². The licenses are located in the offshore areas of Rovuma, Zambezi and Angoche, and in the onshore areas of Pande-Temane and Palmeira.

The competitive bidding round is scheduled to close on 20 January 2015. The bids will be evaluated during February and March. The contracts are set to be signed from April onwards.

According to sources about 180 trillion cubic feet of gas have been found in the Rovuma Basin. The government expects initial investments of more than US$30 billion in its nascent gas sector to produce 20 million tonnes per year of liquefied natural gas (LNG). The first exports of LNG are expected to start by 2018.

See official announcement:

http://www.inp-mz.com/The licensing round comes after the government modified the laws of Mozambique's oil and gas industry. The new laws require to devote 25% of the oil or gas production to the domestic market.

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