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ONGC-BPCL-OIL investment in Mozambique-I: Looking for a bulk buyer
Jul 21:
Now that BP has purchased the entire LNG production -- over a 20 year period -- from ENI's Coral South project in Mozambique deepwaters, the focus has shifted to how soon the Rovuma Area 1 Offshore block owned by Anadarko Petroleum, in which the Indian trio -- made up of ONGC, Bharat Petro Resoures Ltd (BPRL) and Oil India Ltd (OIL) -- is going to move to FID stage.
8The Rovuma reserves are estimated at a massive 50 to 70 TCF of gas just for Rovuma Area 1.
8Mozambique will be one of the new entrants over the next decade. With around 100+ tcf discoveries, it will be one of the major LNG exporters in the 2020s and beyond.
8While Mozambique’s discoveries are located in deepwater, the cost of these resources are amongst the most competitive due to scale and proximity to key Asian markets.
8As for the promoters of Rovuma Area 1, the work has shifted to changing their business model, so as to be able to trim down costs and make the end price attractive to LNG buyers.
8Like the BP deal with ENI, it is learned that the Anadarko led consortium is on the look out for a bulk buyers for two trains of LNG, as finding individual offtakers to make the project bankable going to be a very difficult exercise.
Click on Details and Reports for more
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8The Rovuma reserves are estimated at a massive 50 to 70 TCF of gas just for Rovuma Area 1.
8Mozambique will be one of the new entrants over the next decade. With around 100+ tcf discoveries, it will be one of the major LNG exporters in the 2020s and beyond.
8While Mozambique’s discoveries are located in deepwater, the cost of these resources are amongst the most competitive due to scale and proximity to key Asian markets.
8As for the promoters of Rovuma Area 1, the work has shifted to changing their business model, so as to be able to trim down costs and make the end price attractive to LNG buyers.
8Like the BP deal with ENI, it is learned that the Anadarko led consortium is on the look out for a bulk buyers for two trains of LNG, as finding individual offtakers to make the project bankable going to be a very difficult exercise.
Click on Details and Reports for more
