OVL, OIL Win Mozambique Nod For Gas Field Development

OVL, OIL Win Mozambique Nod For Gas Field Development

ONGC Videsh Ltd, Oil India Ltd and their partners have received the Mozambique governments nod for bringing to production a giant gas field in the prolific Rovuma Area-1, off the coast of the African nation.

Partners in the block plan to turn the gas into LNG for exports.

In a press statement, state-owned Oil India Ltd said the Mozambique government has “accorded approval for the development plan for the Golfinho-Atum natural gas field in the Area-1 block located in the Rovuma offshore basin of Mozambique”.

The Area 1 block is estimated to hold recoverable gas resources of about 75 trillion cubic feet, more than the combined resource in all of the gas fields in India.

“The approval of the Development Plan is the culmination of several years of progress on technical and commercial aspects of the development,” OIL said without giving details of the investment planned. Read More…

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