BPCL’s arm advises reaching a HOA in Mozambique LNG Project

21 Dec 2012 Evaluate

Bharat Petroleum Corporation’s - wholly owned subsidiary Bharat PetroResources (BPRL)-Anadarko Petroleum Corporation, U.S.A, (Anadarko), the operator of Mozambique’s Offshore Area 1 block, has reached Heads of Agreement (HOA) with Eni, the operator of Mozambique's Offshore Area 4 Block, This HOA establishes foundational principles for the coordinated development of the common natural gas reservoirs (Prosperidade complex) spanning both Offshore Area 1 and Area 4. The HOA is designed to facilities a work program whereby the two operators will conduct separate , yet coordinated offer shore development activities , while jointly planning and construction common offshore development activities , while jointly planning and constructing common onshore liquefaction facilities in Cabo Delgado Province of northern Mozambique . This is significant step towards achieving the target of the first LNG cargo by 2018.

In addition, Anadarko also reported the award of multiple, competing Front End Engineering Design (FEED) contracts for both the Offshore and Onshore components of this LNG Project.

While the-offshore FEEDs will focus on the subsea production systems of the Area 1 Block from the Prosperidade complex, the onshore FEED will culminate in the delivery of a full engineering, procurement and construction plan, and a lump sum turnkey price for the initial two 5-MMTPA trains, as well as associated common facilities, The FEED shall also have designs for two additional trains,. Overall, the onshore FEED will also develop an overall LNG park plan for a future production of approximately 50 MMTPA.

BPRL Ventures Mozantbique B.V., an overseas subsidiary of BPRL, holds 10% participating interest (PI) in the block. Anadarko Mocambique Area 1 Lda, an affiliate of Anadarko is the operator of the block with a PI of 36.5%. The other consortium members are Videocon Mozambique Rovuma 1 Limited (10 % PD, PTTEP Al (8.5 percent) and Mitsui E&P Mozambique Area 1 Limited (20% PD. The balance 15% PI is with Empressa Nacional de Hidrocarbonetos E.P (ENH), the National Oil Company of Mozambique, who are cariied through the exploration phase.

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