June 7th, 2016. The government of Mozambique has decided to spend US$150 million on three-dimensional seismic surveys in the blocks included in the fifth international tender for oil and gas exploration, said the president of the National Oil Institute (INP).
“The goal,” Carlos Zacarias told daily newspaper Notícias, “is to organise a database on the existing oil potential in those blocks, with subsequent delivery to the companies awarded the tender.”
The fifth international tender for oil and gas exploration was launched on 23 October 2014 by the INP, regulator of the oil sector in Mozambique, which has made available to interested parties a total of 11 areas in the sea in the Rovuma basin, Angoche, Mozambique (Zambezi delta) and four onshore basins of Mozambique (areas of Pande/Temane and Palmeiras), covering a total of 74,259 square kilometres.
Zacarias said to it was normal that the utility companies carry out their own three-dimensional seismic survey but said there are cases where it is the country itself that takes the initiative to carry out this survey.
The President of INP also reported that the government is preparing the final format of the contracts so the companies awarded in the fifth international tender can begin prospecting work, in which they have pledged to invest US$700 million over four years.