Mozambique and Tanzania to Cooperate On Hydrocarbons

AllAfrica |

The Mozambican government's National Petroleum Institute (INP) has signed a Memorandum of Understanding with the Tanzanian Petroleum Development Corporation (TPDC) to facilitate the development of the hydrocarbon industry.

The agreement aims to promote cooperation between the two institutions, especially in the exchange of technical data, reports and information on the exploration and production of hydrocarbons, and the management and organisation of the collection of data. It also paves the way for cooperation in joint projects, training courses, and the evaluation of resources.



Large reserves of natural gas have been discovered offshore along the border between the two countries in the Rovuma Basin.

On the Mozambique side two operators, ENI and Anadarko, have so far discovered over 150 trillion cubic feet of gas.

A huge liquefied natural gas (LNG) plant is to be built on land at Palma to process the gas from Anadarko's fields. Meanwhile, ENI is looking at building a floating gas liquefaction facility which would be moored off the coast of Palma.

Meanwhile, Anadarko has just begun drilling at the Tembo-1 well onshore in northern Mozambique and there are hopes that oil might be discovered.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
FRHLF Freehold Royalties Ltd 11.65 0.00 0.00 0

Comments

Emerging Growth

Beleave Inc.

Beleave Inc is a biotech company. The Company is engaged in the production of medical marijuana under the Marihuana for Medical Purposes Regulations outlined by Health Canada.

Private Markets

Quants Inc

Quants, Inc, a California Corporation, develops, markets and operates financial technology platforms and alternative investment products offering sophisticated risk management since 2010. The Company has primarily sharpened its focus with…

Voleo

Voleo is a free download that allows you to form investment clubs with your friends, family, colleagues, classmates, teammates…basically anyone you know and trust. Invest and manage a stock portfolio…