Uchenna Izundu
OGJ International Editor
LONDON, Apr. 27 -- Mozambique's state-owned Empresa Nacional de Hidrocarbonetos de Mocambique has sold Indonesia's PT Kalila Energy Ltd. a 75% stake in the Buzi Block for $30 million.
The partners will undertake natural gas exploration in the central Sofala province for the next 8 years and will drill two exploration and two appraisal wells.
The contract also provides for funding for social responsibility and staff-training programs.
According to reports, Buzi holds estimated reserves of 10-17 bcf of gas.
Contact Uchenna Izundu at [email protected].
