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OIL’s Joint Venture Partners of Mozambique Rovuma Offshore Area 1 announces FID for initial two LNG train Project Dev.

Jun 19th, 2019 3:38 pm | By | Category: LATEST NEWS

Utpal Bora, Chairman and Managing Director of Oil India Limited (OIL),

Utpal Bora, Chairman and Managing Director of Oil India Limited (OIL),


(THE NEWSMAN OF INDIA)
Oil India Limited , a National Oil Company of India, announces that Rovuma Offshore Area 1 consortium (Area-1), have taken a Final Investment Decision (FID) for the two train Golfinho/Atum Mozambique LNG Project. The event to announce the FID by Area-1
consortium was held in Maputo, Mozambique on 18th June 2019, attended by the President of the Republic of Mozambique Filipe Nyusi, the Minister of Mineral Resources Ernesto Max Tonela, along with representatives from the Area 1 partner companies and distinguished guests. Mozambique LNG will be the first onshore LNG facility in Mozambique initially consisting of two LNG trains with a total nameplate capacity of 12.88 million tonnes per annum (MMTPA) supported by the development of the Golfinho/Atum fields located offshore entirely within Area 1. The project has successfully secured in aggregate 11.1 MMTPA of long-term LNG sales (representing 86% of the plant’s nameplate capacity) with key LNG buyers in Asia and in Europe. Additionally, the project will have a significant domestic gas component for in-country consumption to help fuel economic development. The FID signifies that the Golfinho/Atum Mozambique LNG project will now advance to the construction phase.

Anadarko Moçambique Área 1, Lda is the Operator of the project with 26.5% PI and the other partners are Mitsui E&P Mozambique Area1 Ltd. (20%), ENH Rovuma Área Um, S.A. (15%), BREML (Beas Rovuma Energy Mozambique Limited) (10%), BPRL (10%), ONGC Videsh (10%) and PTTEP Mozambique Area 1 Limited (8.5%).

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