Oil and Gas Technology published a Procorre consultancy report predicting a 2016 rapid growth of Africa’s oil and natural gas industry, expending a surge in the production capacity of 8m b/d of crude oil, as recorded last year.
The discovery of new reserves in Mozambique puts its proven gas reserves at 98.8tcf in mid-2015 – up from 4.6tcf two years ago. This means that Mozambique is rapidly ramping up its capabilities and investment in infrastructure to capitalize on the discovery and compete with more mature markets, Procorre’s Director of Global Mobility, James Alexander, added.
In line with the oil and gas market recent trends, international gas companies Anadarko and ENI are foreseeing to finalize their investment decisions over the exploitation of extensive gas reserves in Mozambique this year, pondering a $31b injection into the economy, Global Risk Insights noted.
While the country was recently declared a ‘landmine free’ zone, a local rioters’ attack on a Tantalum mine in Gile district of central Mozambique was reported in November, raising investors’ attention to the need for engaging with local communities’.