Búzi block shows good oil and gas potential – Mithá

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Búzi block shows good oil and gas potential – Mithá

3:51 CAT | 07 Mar 2017

File photo / ENH chairman Omar Mithá

Surveys of the Búzi hydrocarbon exploration block in Sofala are give strong indications of the presence of hydrocarbons there, Chairman of the Board of Directors of the National Hydrocarbons Company (ENH) Omar Mithá revealed to parliamentarians recently.

Mithá explained that investment in the exploration phase could reach US$700 million and that research in the new blocks most recently concessioned provided a “vote of confidence in the likelihood of more resources to be discovered”.

This is not the first time that the Buzi region has revealed hydrocarbon potential. In the 1960s, natural gas was discovered there, but the quantities identified by US multinationals at the time were considered commercially non-viable, which is why the government granted the area to an Indonesian company to carry out studies.

Working in partnership with ENH, the company, Búzi Hydrocarbon, has carried out seismic studies and environmental impact assessments as the necessary precursor to sinking research wells.

The Búzi block, formed by the districts of Búzi, Machanga and Chibabava, is located in the Mozambique sedimentary basin, one of the least explored regions from the point of view of hydrocarbon potential.

Source: O País