Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Algeria’s Sonatrach moves to buy stake Mozambique

    Algeria’s Sonatrach moves to buy stake Mozambique

    May 1, 2013
    Share
    Facebook Twitter LinkedIn WhatsApp

    Sonatrach01 May 2013, News Wires – Algeria’s state energy company, Sonatrach, is in talks to buy a stake in Mozambique offshore gas projects operated by Italy’s Eni and Anadarko Petroleum of the US, its chief executive officer has announced.

    Sonatrach, seeking to expand its presence abroad, is also eyeing new gas blocks in the east African country, Reuters quoted the company’s chief Abdelhamid Zerguine as saying, citing the official APS news agency.

    Zerguine was speaking after signing a memorandum of understanding with the head of Mozambique’s Empresa Nacional de Hidrocarbonets, ENH, Nelson Ocuane.

    Zerguine said Sonatrach was interested in buying part of a minority stake held by ENH in the offshore gas fields.

    “We want to have a place, but on the Mozambican side,” he said, according to the news wire.

    Zerguine did not give details on the size of stake Sonatrach was seeking to acquire, but said a 5% holding would cost it around $1 billion.

    The memorandum also opened the way for Sonatrach to acquire exploration blocks in Mozambique.

    “We agreed that Sonatrach will get prospecting blocks to explore alone or in partnership with energy companies operating in Mozambique,” APS quoted Zerguine as saying.

    Related News

    Asian spot LNG prices rise slightly on US-China tariff truce

    US LNG exporters push forward new projects despite trade war uncertainty

    Gas explosion rocks fueling station in Port Harcourt, injures five

    E-book
    Resilience Exhibition

    Latest News

    Jonathan, Attah, Renaissance, others honoured at Champions of Nigerian Content Awards

    May 22, 2025

    FG inaugurates AMCON Board to strengthen asset recovery, economic stability

    May 22, 2025

    Customs foil N3bn drug smuggling attempt at Apapa Port, three arrested

    May 22, 2025

    Ireland seeks partnership with HYPREP for sustainable Ogoni Cleanup

    May 22, 2025

    Crude prices climb on geopolitical risks

    May 22, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.