Mozambiques government approved for Golfinho-Atum Field Development Plan, marking a significant milestone of the Rovuma Offshore Area 1

Energy Press Releases Monday March 5, 2018 15:20
Bangkok--5 Mar--PTTEP

PTT Exploration and Production Public Company Limited (PTTEP) together with Anadarko Petroleum Corporation, the operator of Mozambique Rovuma Offshore Area 1 project, and other partners have received approval from the Government of Mozambique for the Development Plan of Golfinho-Atum field, one of natural gas fields in Rovuma Offshore Area 1. The approval of the Development Plan is the culmination of several years of progress on technical and commercial aspects of the development.

"The Mozambique Rovuma Offshore Area 1 project is one of important projects under our strategic investment plan. The approval for the Development Plan of Golfinho-Atum field is a significant milestone to continue building momentum toward a Final Investment Decision," said Phongsthorn Thavisin, President for Exploration and Production of PTTEP.

In the recent years, key achievements of the Mozambique Rovuma Offshore Area 1 project included the completion of the Legal and Contractual Framework, approval on marine concessions from the Government of Mozambique and the start of resettlement in November 2017, which marks an important step to facilitate construction of the onshore LNG facilities. Meanwhile, partners in the project are progressing efforts to lock in long-term liquefied natural gas (LNG) Sales and Purchase Agreements and negotiating for project finance with financial institutions.

The Mozambique Rovuma Offshore Area 1 project is progressing toward developing onshore LNG plant consisting of two initial LNG trains with a total capacity of 12.88 million tonnes per annum (MTPA). The Golfinho-Atum Project will also supply initial volumes of approximately 100 million cubic feet of natural gas per day (MMCFD) for domestic sales in Mozambique. The project also has significant advantage in location and cost, which is its proximity to shore and its accessibility to Asian and other markets.

About Mozambique Rovuma Offshore Area 1 Project

The Mozambique Rovuma Offshore Area 1 Project is a large gas project located in offshore Mozambique consisting of Prosperidade field, Golfinho-Atum field, Orca field, Tubarao field and Tubarao-Tigre field with substantial recoverable natural gas resources of approximately 75 trillion cubic feet (TCF) and potential to become one of the world's largest emerging LNG supply hubs.

The joint venture partners Mozambique Rovuma Offshore Area 1 project comprise of PTTEP Mozambique Area 1 Limited, a subsidiary of PTTEP with 8.5 percent of participating interest, Anadarko Mozambique Area 1, the operator, with 26.5 percent, ENH Rovuma Area Um, S.A. with 15 percent, Mitsui E&P Mozambique Area 1 Ltd. with 20 percent, ONGC Videsh Ltd. with 10 percent, BEAS Rovuma Energy Mozambique Limited with 10 percent and BPRL Ventures Mozambique B.V. with 10 percent.

About PTTEP

PTT Exploration and Production Public Company Limited (PTTEP), a subsidiary of PTT Public Company Limited, is a Thai petroleum exploration and production company dedicating itself to providing a sustainable petroleum supply to Thailand and the countries it operates in. As of December 31, 2017, PTTEP had exploration and production projects in 10 countries worldwide. The Company continues to ensure energy sustainability by implementing both a new long-term organizational strategy and a business plan that will support its aspiration to become a leading exploration and production company in Asia.


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