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PTTEP, partners get Mozambique govt approval to develop gas field


PTT Exploration and Production (PTTEP) together with US-based Anadarko Petroleum Corp – operator of the Mozambique Rovuma Offshore .Area 1 project – and other partners have received approval from the government of Mozambique for the development plan for Golfinho-Atum, a natural gas field in the Rovuma Offshore Area 1

 


Approval of the plan is the culmination of several years of progress on the technical and commercial aspects of the gas field’s development.

“The Mozambique Rovuma Offshore Area 1 project is one of the important projects under our strategic investment plan. The approval for the development plan of the Golfinho-Atum field is a significant milestone to continue building momentum toward a final investment decision,” Phongsthorn Thavisin, PTTEP president for exploration and production, said on Monday.
In recent years, key achievements of the Mozambique Rovuma Offshore Area 1 project include the completion of the legal and contractual framework, approval on marine concessions from the government of Mozambique and the start of resettlement in November 2017, which marks an important step to facilitate construction of the onshore liquefied natural gas (LNG) facilities, he said.
Meanwhile, partners in the project are progressing efforts to lock in long-term LNG sales and purchase agreements and negotiating for project finance with financial institutions. 
The Mozambique Rovuma Offshore Area 1 project is progressing toward developing an onshore LNG plant consisting of two initial LNG trains with a total capacity of 12.88 million tonnes per annum. 
The Golfinho-Atum project will also supply initial volumes of around 100 million cubic feet of natural gas per day for domestic sales in Mozambique.
The project also has a significant advantage in location and cost, given its proximity to the shore and its accessibility to Asian and other markets.

Published : March 05, 2018

By : The Nation