Subsidiary of Indonesian group starts oil exploration in Mozambique – report

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Subsidiary of Indonesian group starts oil exploration in Mozambique – report

9:21 CAT | 17 Dec 2019

IImage: www.emp.id

Buzi Hydrocarbons Pte Ltd. in the next few days is scheduled to start onshore drilling for oil and gas in the Búzi block, in central Mozambique, in partnership with state oil and gas company Empresa Nacional de HIdrocarbonetos (ENH), said the president of the National Oil Institute (INP).

Carlos Zacarias told daily newspaper Notícias, that the Búzi block is located in the Mozambique sedimentary basin, which is so far one of the least explored regions of the country in terms of oil and gas potential.

The only commercial exploration of natural gas in the Mozambique sedimentary basin is carried out by South Africa’s Sasol, in Pande and Temane, Inhambane province, which exports most of the gas it produces to South Africa.

The president of the INP also said that the first stage involves onshore test drilling, with the possibility of drilling a second test well, and added that all the necessary equipment was already in place.

The Búzi block has already been the target of surveys in the past, that culminated with the discovery of natural gas reserves in the 1960s, but the amount found was considered insufficient for viable commercial exploration.

Buzi Hydrocarbons Pte Ltd. is a subsidiary of the Energi Mega Persada Tbk PT of Indonesia [EMP] and has a 75% stake in the Búzi block’s rights. The remaining 25% of the stake in BUZI EPCC is owned by Empressa Nacional de Hidrocarbonetos [ENH]

Source: Macauhub