The Government approved this week the addendum to the development plan for the Area 1 project, in the Rovuma Basin, Cabo Delgado province.
It is a document that recognizes the entrance of the French oil company Total as the concessionaire and operator of the Area 1, in the Rovuma Basin, replacing the North American Anadarko.
The spokesperson for the Council of Ministers, Filimão Suaze, explained that the addendum authorizes the modification of the installed capacity in Area 1.
According to Suaze, who is also deputy minister of Justice, Constitutional and Religious Affairs, the document also aims to incorporate the project’s funding updates.
“The resolution aims to tailor the development, ownership, construction, financing, operation and maintenance aspects of the project,” he said.
At the same session, the Executive approved the terms and conditions of the complementary agreement to the concession contract for exploration and production in Area 1, as well as the addendum to the direct financing agreement for the Golfinho/Atum Liquefied Natural Gas project.
Suaze said that the instrument aims to contemplate the changes resulting from the entry of Total E&M Mozambique Area 1 Lda.
Total E&P Mozambique Area 1, Lda, a wholly owned subsidiary of Total, operates the Mozambique LNG project, with a 26.5% stake, along with ENH Rovuma Area 1, S.A. (15%), Mitsui E&P Mozambique Area1 Limited (20%),ONGC Videsh Rovuma Limited (10%), Beas Rovuma Energy Mozambique Limited (10 %), BPRL Ventures Mozambique B.V. (10%), and PTTEP Mozambique Area 1 Limited (8.5 %).
