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Final Investment Decision announced for Golfinho/Atum Mozambique LNG Project

Wednesday, 19 Jun 2019

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ONGC Videsh, a wholly-owned subsidiary of ONGC, announced that Rovuma Offshore Area 1 consortium (Area-1) has taken a Final Investment Decision (FID) for the two train Golfinho/Atum Mozambique LNG Project.

The event was held in Maputo, Mozambique, on 18 June 2019.

The project will be the first onshore LNG facility in Mozambique consisting of initial two LNG trains with a total nameplate capacity of 12.88 million tpa supported by the development of the Golfinho/Atum fields located offshore entirely within Area 1.

The project has secured in aggregate 11.1 million tpa of long-term LNG sales (representing 86 percent of the plant's nameplate capacity) with key LNG buyers in Asia and Europe.

Moreover, the project will have a significant domestic gas component for in-country consumption in Mozambique to help fuel economic development.

The project will now enter to the construction phase.

ONGC Videsh holds 16 percent interest in the project, of which 10 percent PI is held directly by ONGC Videsh and another six percent through its 60 percent shareholding in Beas Rovuma Energy Mozambique (BREML), while the remaining 40 percent shares in BREML are held by Oil India (OIL).

Anadarko Mocambique Area 1, Lda is the operator of the project with 26.5 percent PI while the other partners are Mitsui E&P Mozambique Areal (20 percent), ENH (15 percent), BPRL (10 percent) and PTTEP Mozambique Area 1 (8.5 percent).