The Chinese-built platform is part of a multi-year plan that will turn the South American giant into a leading crude exporter.
Totalenergies
The mammoth energy project, put on hold for security reasons, could help make Mozambique one of the world’s biggest gas exporters.
Project – halted after guerrilla attacks – vital to east African republic’s economy, and would ease energy crunch in Europe following Russian supply squeeze.
Italian oil company bullish on prospects, citing its reserves, technological know-how, strong and committed team, track record and government support.
Companies from Africa, Europe and Asia train their sights on massive project, which should provide enormous economic benefits when it opens in 2030.
Fitch Solutions’ positive forecast tempered by continued insurgent activity in country’s north which ‘may delay development of natural gas sector’.
China National Offshore Oil Corporation and China National Oil & Gas Exploration & Development eye 11 areas up for bidding.
New platform would complement existing US$7 billion Coral-Sul operation, but company needs agreement from partners who include China National Petroleum.
Oil price averages US$113 per barrel, with 1,139 million barrels exported daily; China imports more than 54% of total output.
1 2
