PTT Exploration and Production Plc’s (PTTEP) Executive Vice President for Finance and Accounting, Pannalin Mahawongtikul, said the company was close to finalizing an investment decision on Rovuma Offshore Area 1 in Mozambique delayed from 2015 due to the complicated process of obtaining licenses from local and central governments and unclear business models, Bangkok Post reported.
Mozambique’s Rovuma A1 project requires a liquefied natural gas (LNG) facility as well as massive investment of $22b over 5-6 years. It is estimated to produce 12m tons of LNG a year, of which 70% has already been contracted to major buyer, informed Offshore Technology.
Offshore Area 1 is operated by Anadarko Mozambique Area, with a 26.5% working interest. The other partners in the area include National Oil Company Empresa Nacional de Hidrocarbonetos at 15% stake, Mitsui E&P Mozambique Area 1 at 20%, ONGC Videsh at 16%, Bharat PetroResources at 10), PTTEP Mozambique Area 1 at 8.5%, and Oil India at 4%.
The Offshore Area 1 development project will involve the installation of subsea production systems, including subsea production trees, manifolds, chemical injection distribution facilities, flowlines, electro-hydraulic control umbilicals, and pipeline end termination (PLET) systems. The output from the gas fields will be conveyed to the onshore LNG plant through a 45km subsea pipeline corridor. A floating production unit is also proposed to be installed during the later phases of the project.