Mozambique Seeks Buyers for Natural Gas From Buzi Basin

Búzi Hidrocarbonetos is already looking for buyers for Búzi natural gas, confirmed through surveys of drilling done in 2019. Even though the identification of the existing natural gas potential in the Búzi Block, in Sofala, centre of the country, is still pending, Búzi Hidrocarbonetos already knows that the resource is marketable.

On the sidelines of a visit by a delegation of Mozambican businesspeople to the headquarters of the holding company, of which the petrochemical company is part, in Jakarta, the Indonesian capital, Búzi Hydrocarbons’ CEO, Taufan Rotorasiko, said that “two gas wells had been found and now we are working with a third, over which we hope to confirm good quantities of resources.

However, as announced this year by the Council of Ministers, the definitive results about the natural gas potential in that region may only be known in 2024.

Gas exploration drilling in the region began in 2019, in a partnership between Búzi Hidrocarbonetos with 75%, and the Mozambican state with 25%, represented by Companhia Moçambicana de Hidrocarbonetos.

“We expect to invest, firstly, about $15 million, but we also plan to invest $120 million to build the platform. It is a great investment for the country, and we hope that it will create great opportunities for us and for Mozambique,” the CEO of Búzi Hidrocarbonetos added.

In August, the president of the National Petroleum Institute, Nazário Bangalane, said that the results of the natural gas research in the Búzi block would be fully known within two years.

Drilling led by the company Búzi Hydrocarbons began in 2019, but was halted in 2020 due to the covid-19 pandemic.

Link: https://360mozambique.com/oil-gas/mozambique-seeks-buyers-of-natural-gas-from-buzi-basin/