BREAKING NEWS: MOZAMBIQUE TO APPROVE ANADARKO GAS INVESTMENT

The Government approved at today’s session of the Council of Ministers, the development plan for Area 1, of the Rovuma basin. It is a natural gas production project located in the district of Palma, at the northern end of Cabo Delgado province.

Led by US-based Anadarko, the consortium that operates Rovuma Basin Area 1 is expected to invest US$12 billion, which will generate 5,000 jobs in the construction phase and 1,000 during production.

The government expects to obtain from this project around US$30.7 billion by 2047, in both taxes and production sharing.

A second consortium, led by ENI, is also on its way to initiate a LNG project.

Mozambique is about to lift-off. Are you ready?