BPCL’s investment plan for Mozambique gas field gets government’s approval


BPCL’s investment plan for Mozambique gas field gets government’s approval

A ministerial group headed by home minister Amit Shah has given its nod to Bharat Petroleum Corporation’s (BPCL) plan to invest $2.2-2.4 billion in the Rovuma Offshore Area-1 gas field in Mozambique.

The group — including finance minister Nirmala Sitharaman, commerce and railway minister Piyush Goyal, external affairs minister S Jaishankar and petroleum and steel minister Dharmendra Pradhan — had met on June 4 to scrutinise the investment plan, as it is still to be approved by the Cabinet Committee on Economic Affairs (CCEA).

The approval was required as Anadarko Petroleum, the US-based project operator, will be announcing the final investment decision on the LNG project on June 18 during the Africa-US Business Summit 2019, which is also being held in Mozambique. Read More

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