Mining & Energy
Faberge owner Gemfields taken to court over alleged abuses in Mozambique
The French Compagnie Generale de Geophysique (CGG) on Wednesday announced that it has completed the acquisition of 15,400 square kilometres of 3D marine seismic data in the outer Zambezi Delta Basin in central Mozambique.
The survey area covers blocks Z5-C and Z5-D and surrounding non-held acreage in the Mozambique Channel. It follows an agreement reached with the National Petroleum Institute (INP) in 2017, and will provide greatly increased knowledge of the hydrocarbon potential of the Zambezi Delta, providing oil and gas companies with the information they need to pursue their activities.
According to CGG, the initial data will be available in the last quarter of 2018 “in anticipation of a licence round during 2019”. The final data sets will be made available in the last quarter of next year.
ALSO READ: Zambezi Delta seismic study launched
The company’s chief executive, Sophie Zurquiyah, explained that the data “will support INP’s promotion of the potential in the deepwater Zambezi Delta Basin and the west flank of the Beira High. This full package will also provide interested industry companies with the information required to confidently de-risk the full Paleozoic, Mesozoic and Cenozoic series in this exciting new exploration area”.
In October 2015 the INP awarded the contracts to explore Blocks Z5-C and Z5-D to a partnership between the US giant ExxonMobil and Russian company Rosneft. ExxonMobil will be the operator, with a sixty per cent stake, whilst Rosneft has a twenty per cent share. The remaining twenty per cent stake is held by Mozambique’s National Hydrocarbon Company (ENH).
Mozambique has known reserves estimated at 200 trillion cubic feet of natural gas in the Rovuma Basin, off the coast of the northern province of Cabo Delgado.Source: AIM
Another fuel price hike kicks in tomorrow - Mozambique
Authorities seize illegally mined tantalite in Zambézia