Uchenna Izundu
OGJ International Editor
LONDON, Sept. 22 -- Petrovietnam revealed its interest to potentially invest in a gas pipeline in Mozambique as it implements its strategy to boost overseas oil and gas investment.
Petrovietnam said it hoped to work with the Mozambican government on potential domestic oil and gas projects, including the $85 million gas pipeline project. Pande Temane gas field in Inhambane province in south Mozambique is currently the only producing field, gas from which is sold to South Africa. A spokeswoman from Mozambique’s National Petroleum Institute (NPI) told OGJ, “We are doing exploration on other fields, both onshore and offshore.”
Petrovietnam also is keen to strengthen its relationship with Angola. Last week, Vietnam’s Prime Minister approved the protocol for an oil and gas cooperation agreement between Vietnam and Angola, which was signed last year. Vietnam’s Ministry of Trade and Industry will draw up a program and identify agencies to implement it.
Operators expect to invest more than $786 million on oil exploration by 2011, according to NPI Chairman Arsenio Mabote.
Speaking on state Radio Mozambique in August, he said this figure was based upon the number of contracts signed between the government and 10 operators that have been present since 2006. The government plans to hold several bidding rounds between now and 2011 also.
Oil companies are concentrating along the Rovuma basin and between the northern and central regions of Mozambique. Current operators are Anadarko Petroleum Corp. and Eni SPA.
Artumas Group Inc., Calgary, has two blocks in Mozambique, including the Rovuma onshore block in northeast Mozambique, and it will spud its first well in the fourth quarter. It shot over 640 km of 2D seismic that showed several highly prospective leads within the Tertiary oil prone play and the Cretaceous and Jurassic gas-prone plays.
Its other block off northeast Mozambique is the Rovuma Area 1 Block, which has had more than 3,300 sq km of 3D seismic shot. “The current mapping confirms the presence of a large number of prospective structures,” said Artumas. The company has also gathered over 5,000 km of 2D seismic data in the shallow waters of Area 1. Artumas will spud the first deepwater well in the late fourth quarter. It has committed to drill four deepwater wells in total.
Contact Uchenna Izundu at [email protected].
Photo from Trans Mountain.
