Rosneft mulls Mozambique move

mozambique-flag23 April 2014, News Wires – Rosneft could be looking for a way into Mozambique’s giant gas plays after a high-level meeting between the company and government officials in Russia.

Chairman Igor Sechin met Mozambique’s Minister for Foreign Affairs Oldemiro Julio Marques Baloi in Moscow on Tuesday where “the parties discussed a wide range of issues”, the state-controlled oil giant said.

Among the issues discussed was the “possible involvement of Rosneft in production projects” in the East African gas powerhouse.

A statement from Rosneft pointed to the major gas discoveries off Mozambique in recent years, with proved reserves as of the beginning of the year of 1.03 trillion cubic metres.

Although Rosneft pointed to the potential in the Rovuma basin and in basins in the Mozambique river, as well as to current production in the Pande and Temane fields, no details of what projects it may be eyeing were revealed.

A Rosneft spokesperson was unwilling to comment further on the company’s plans.

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