Gas giants eye Mozambique's gas fields

sxcThere has been a growing interest from foreign investors in Mozambique's gas exploration areas. (Image source: sxc.hu)ExxonMobil, Shell and Chevron have all shown an interest in developing Mozambique's gas fields, according to an executive from the country’s national oil company, Empresa Nacional de Hidrocarbonetos (ENH)

Tavares Martinho, exploration director at ENH, said in a conference in London that there was growing interest from foreign investors in Mozambique's exploration areas.

“We are starting to see Shell, ExxonMobil and Chevron wanting to invest in Mozambique. The companies are willing to come to Mozambique and they will be welcome,” Martinho said.

The gas fields discovered by US explorer Anadarko and Italy’s ENI off the coast of Mozambique have helped to thrust East Africa into the limelight as a new hydrocarbon region, he remarked.

Earlier this year, Shell tried and failed to access Mozambique’s gas when it was outbid in the race to buy British firm Cove Energy.

Media reports and analysts have since speculated that Shell could now look to buy a stake in some Mozambique gas assets that Cove shares with Anadarko, but Martinho said ENH had not had any notification from Anadarko regarding plans to bring in a new partner.

“Anadarko hasn’t come yet with the formal letter. If there are negotiations they are on the level of Shell and Anadarko. This is not official,” Martinho said.

Alain Charles Publishing, University House, 11-13 Lower Grosvenor Place, London, SW1W 0EX, UK
T: +44 20 7834 7676, F: +44 20 7973 0076, W: www.alaincharles.com

twn Are you sure that you want to switch to desktop version?