Mozambique: 6th Licensing Round contracts awaiting approval from the Administrative Tribunal – Notícias

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Mozambique: 6th Licensing Round contracts awaiting approval from the Administrative Tribunal – Notícias

6:07 CAT | 19 Aug 2024

Image: Notícias

Almost all of the contracts resulting from the sixth international competition for the concession of hydrocarbon research and production areas have already been approved by the government, and now await approval from the Administrative Tribunal

Nazário Bangalane, chairman of the Board of Directors (PCA) of the National Petroleum Institute (INP), the regulatory body for the hydrocarbon sector in Mozambique, believes that approval will be granted at any time.

Under Mozambican law, any contracts signed with public entities must be subject to inspection of their legality by the Administrative Tribunal.

According to Bangalane, who was speaking to journalists this week during a visit to the future cooking gas factory in Temane, Inhambane, details are currently being analysed for the signing of one other Sixth Licensing Round contract, the terms of which will be submitted to the Council of Ministers for approval and subsequent forwarded to the Administrative Tribunal.

The Sixth Licensing Round was launched at the end of 2021, following previous gas discoveries in the Rovuma basin, which holds some of the world’s largest reserves, and was won by consortia led by the Italian company Eni and the China National Offshore Oil Corporation Hong Kong Holding Ltd (CNOOC).

Mozambique has three approved projects for the exploration of natural gas reserves in the Rovuma basin, off the coast of Cabo Delgado, the two largest of which envisage channelling the gas from the seabed to land, cooling it in a plant to export it by sea in a liquid state.

Source: Notícias