Mozambique issues oil exploration tender

MAPUTO – Mozambique yesterday issued an oil exploration tender for the southern Inhambane province.

“We are today announcing the third round of all prospecting in Mozambique. We are offering 61 000 square metres divided in nine groups, offshore and onshore, in the districts of Pande and Temane in the southern province of Inhambane,” said Carlos Zacarias, a board member of the Mozambique National Petroleum Institute.”We are inviting small and medium companies to participate, but they must show a technical capacity and a strong financial robustness.A minimum of US$7 million will be on the table…”In August, Mozambique said it will issue a US$68 million oil exploration tender and that the contract would cover either the Inhambane province or the Rovuma Basin.Companies from South Africa, Brazil or the United States were likely to win the tender and would have to invest the money before the end of the year, analysts said.Mozambique’s government has liberalised foreign investment rules in the energy sector in a bid to rebuild and diversify its agriculture-based economy, which was devastated by a civil war that followed independence from Portugal in 1975.Nampa-ReutersWe are offering 61 000 square metres divided in nine groups, offshore and onshore, in the districts of Pande and Temane in the southern province of Inhambane,” said Carlos Zacarias, a board member of the Mozambique National Petroleum Institute.”We are inviting small and medium companies to participate, but they must show a technical capacity and a strong financial robustness.A minimum of US$7 million will be on the table…”In August, Mozambique said it will issue a US$68 million oil exploration tender and that the contract would cover either the Inhambane province or the Rovuma Basin.Companies from South Africa, Brazil or the United States were likely to win the tender and would have to invest the money before the end of the year, analysts said.Mozambique’s government has liberalised foreign investment rules in the energy sector in a bid to rebuild and diversify its agriculture-based economy, which was devastated by a civil war that followed independence from Portugal in 1975.Nampa-Reuters