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  • Mozambique Area 1 co-venturers announce Final Investment Decision
    édité le 19/06/2019 - Plus de news de "PTTEP" - Voir la fiche entreprise de "PTTEP"


Mozambique Area 1 co-venturers announce Final Investment Decision
PTT Exploration and Production Public Company Limited (PTTEP) disclosed that PTTEP and other co-venturers of Mozambique Area 1 Project, have announced a Final Investment Decision (FID) on the Mozambique Area 1 Project.

Phongsthorn Thavisin, President and Chief Executive Officer of PTTEP, said “this official declaration of FID confirms that the Mozambique Area 1 project will now advance to the construction phase, a significant step closer to making Mozambique’s first onshore LNG facility a reality. The project will help add to PTTEP production volumes and petroleum reserves for our long-term growth. We are also looking forward to the project’s contribution in meeting the global demand for clean energy.”

Mozambique Area 1 project will initially consist of two LNG trains with a total nameplate capacity of 12.88 million tonnes per annum (MTPA) to support the development of the Golfinho/Atum field located entirely within Offshore Area 1. The project, meanwhile, has successfully secured in aggregate 11.1 MTPA of long-term LNG sales with key buyers in Asia and Europe, with the first cargo expected in 2024. The Mozambique Area 1 project will add to PTTEP’s portfolio the total estimated proved reserves (1P) of approximately 140 million barrels of oil equivalent (MMBOE), according to working interest.

Designated as the ‘First Mover’ by the Government of Mozambique, Area 1 will also be responsible for constructing the support facilities to be shared with the adjacent Area 4 project which will include the Materials Offloading Facility (MOF) and the LNG Marine Terminal. Works associated with the construction of a Resettlement Village, Camp Expansion, Airstrip and Palma-Afungi Highway are also progressing.

Following this FID Announcement, the project expects to soon issue Notices to Proceed under the terms of the previously executed engineering, construction, procurement and installation contracts.

Strategically located off the East Coast of Africa, the Mozambique Area 1 project is one of PTTEP’s key natural gas projects that reflects the company’s strategy to invest in new potential areas with competitive cost structure.

About Mozambique Area 1 Project

The Mozambique Area 1 Project is a large gas project located in offshore Mozambique consisting of Prosperidade field, Golfinho-Atum field, Orca field, Tubarao field and Tubarao-Tigre field with substantial recoverable natural gas resources of approximately 75 trillion cubic feet (TCF) and the potential to become one of the world’s largest emerging LNG supply hubs.

The joint venture partners Mozambique Area 1 project comprise PTTEP Mozambique Area 1 Limited, a subsidiary of PTTEP with 8.5 percent of participating interest, Anadarko Mozambique Area 1, the operator, with 26.5 percent, ENH Rovuma Area Um, S.A. (15 percent), Mitsui E&P Mozambique Area 1 Ltd. (20 percent), ONGC Videsh Ltd. (10 percent), Beas Rovuma Energy Mozambique Limited (10 percent) and BPRL Ventures Mozambique B.V. (10 percent).

About PTTEP

PTTEP is the E&P flagship of the PTT Group, Thailand’s national oil company. PTT Public Company Limited is one of ADNOC’s largest crude oil customers purchasing up to 100,000 barrels of various ADNOC crude grades per day and Thailand is the second largest economy in South-East Asia.


Origine : Communiqué PTTEP

Voir la fiche entreprise de "PTTEP"





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