Thailand state-owned petroleum company – PTT Group has intends to buy 2.6 million tonnes of natural gas per year from Rovuma basin.
US group Anadarko Petroleum extracting the gas in Area 1 of the Rovuma basin is facilitating the deal.
Anadarko is the operator of the Area 1 block with a 26.5% stake, other partners are Mozambican state-owned Empresa Nacional de Hidrocarbonetos (15%), Mitsui E&P Mozambique Area 1 Ltd. (20%), ONGC Videsh Ltd. (16%), Bharat PetroResources Ltd. (10%), PTT Exploration & Production Plc (8.5%) and Oil India Ltd. (4.0%).
PTT Exploration & Production Plc, a subsidiary of Thai group PTT, acquired the 8.5% stake held by Ireland’s Cove Energy, through a purchase of the entire company’s share capital for US$1.9 billion.
Partners in the Area 1 block are expected to make a final investment decision by end of 2017.
The natural gas extraction is slated to begin between 2022 and 2023.
