[2020-02-24] Mozambican government intends to hire an advisor for oil company ENH

Source: Macauhub

Companies interested in providing financial advice to Mozambican state oil company Empresa Nacional de Hidrocarbonetos (ENH) should submit their proposals by Tuesday, according to a government statement.

The statement quoted by daily newspaper Notícias said that the company selected should support ENH to raise the funding needed to ensure its share of the natural gas project in Area 4 of the Rovuma basin, in Cabo Delgado province, northern Mozambique.

The government said in a press release that the consultant will be selected based on quality and cost as defined in the guidelines established by the World Bank, and the hiring is part of a package provided by the multilateral institution to fund the technical assistance project for gas and mines (Magtap).

The partners of the Area 4 block have scheduled the final investment decision for April, which will require financing of US$25 billion and its development plan has already been approved by the government of Mozambique.

The first large discovery of natural gas in the Rovuma basin was reported in February 2010 by the Anadarko Petroleum group (now the operator of the Area 1 block) in the Windjammer field.

In all estimated reserves of approximately 170 trillion cubic feet of natural gas were discovered in those two blocks.