PTTEP looks to speed up Mozambique Area 1 FID

Mozambique

MAPUTO, January 30, 2019 – PTT Exploration and Production (PTTEP) aims to speed up the final investment decision on Rovuma Basin Area 1 in Mozambique, the company said on Wednesday.

The decision on the project, which includes the Mozambique LNG facility, is targeted within the first half of 2019, the company said in a statement.

“This year, PTTEP would actively move forward,” Phongsthorn Thavisin, the president and CEO, said.

Covering 4,981 square kilometres, Area 1 is operated by Anadarko with a 26.5% working interest. Its partners are Mitsui E&P Mozambique (20%), the state-owned Empresa Nacional de Hidrocarbonetos (15% carried interest), ONGC Videsh (16%), BPRL Ventures Mozambique (10%), PTTEP (8.5%) and Oil India (4%).