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    Mozambique's ENH Needs to Invest $5 bn in Rovuma Basin

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Summary

Mozambique National Hydrocarbon Company (ENH) needs to invest $2.5 to $5 billion in coming years in order to exercise its rights in areas 1 and 4 of the Rovuma basin, daily newspaper Notícias said.

by: Shardul

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Asia/Oceania

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Mozambique's ENH Needs to Invest $5 bn in Rovuma Basin

Mozambique National Hydrocarbon Company (ENH) needs to invest $2.5 to $5 billion in coming years in order to exercise its rights in areas 1 and 4 of the Rovuma basin, daily newspaper Notícias said.

This amount would be ENH’s part of approximately $20 billion expected to be invested in the LNG project by Anadarko and Eni.

Rovuma Basin is estimated to hold 170 trillion cubic feet of gas.

ENH has a 15% share in Area 1 while 85% is held by Anadarko. In Area 4, ENH holds 10% stake, while Eni is the operator. 

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