PTTEP to Decide on Rovuma Area1

PTTEP to Decide on Rovuma Area1

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.

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