[2019-02-04] Chinese group CNOOC buys natural gas to be extracted in Mozambique

Source: Macauhub

The China National Offshore Oil Corporation (CNOOC) will buy 1.5 million tons of natural gas per year to be extracted and processed in Mozambique over a 13-year contractual period, US group Anadarko Petroleum said.

The group’s statement also said that the sale contract was signed by Mozambique LNG1 Company Pte. Ltd., the trading company of the partners of the Mozambican Area 1 Block, with the subsidiary of the Chinese group CNOOC Gas and Power Singapore Trading & Marketing Pte. Ltd.

Mitch Ingram, executive vice president responsible for international business, deep waters and prospecting, said in the statement that the agreement signed with the CNOOC group is another one among a growing number of clients in the Asia-Pacific region, “demonstrating the progress we are making in order to have a final investment decision in the first half of 2019.”

The Rovuma basin block project, operated by the Anadarko Petroleum group, will have two onshore plants with a combined capacity of 12.88 million tonnes per year to process the natural gas extracted from the Golfinho/Atum fields.

The Area 1 block is operated by Anadarko Mozambique Area 1, Ltd, a wholly-owned subsidiary of the Anadarko Petroleum group, with a 26.5% stake, ENH Rovuma Area One, a subsidiary of state-owned Empresa Nacional de Hidrocarbonetos (ENH), with 15%, Mitsui E&P Mozambique Area1 Ltd. (20%), ONGC Videsh Ltd. (10%), Beas Rovuma Energy Mozambique Limited (10%), BPRL Ventures Mozambique BV (10%), and PTTEP Mozambique Area 1 Limited (8.5%).