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    3 March, 2014
ONGC Videsh buys stake in Rovuma Basin
 
London, 3 Mar (AIM) – The Indian company ONGC Videsh has completed the acquisition of a ten per cent interest in Offshore Area One in the Rovuma Basin, off the coast of Mozambique’s northern province of Cabo Delgado.
 
According to ONGC Videsh, Area One holds estimated recoverable resources of between 45 and 70 trillion cubic feet of natural gas.
 
ONGC Videsh has bought the stake from the American company Anadarko Petroleum, which is the operator of Area 1.
 
This completes a process begun on 24 August last year when ONGC Videsh signed definitive agreements with Anadarko to acquire the stake for a price of 2.64 billion US dollars.
 
Previously, ONGC Videsh bought, in conjunction with Oil India, a ten per cent interest in Area One from another Indian company, Videocon.
 
The gas discoveries in Areas One and neighbouring Area Four will be the basis for building an onshore liquefied natural gas (LNG) plant. According to ONGC Videsh, “Area 1 has the potential to become one of the world’s largest LNG producing hubs and is strategically located to supply LNG to the growing Indian gas market”.
(AIM)
 
 
  2 December, 2019  
 
AIDS related deaths fell 20 percent over five years
 
President Filipe Nyusi declared on 1 December in the northern city of Nampula that the number of deaths from HIV/AIDS in Mozambique fell by 20 per cent between 2014 and 2018.

 
  18 November, 2019  
 
President addresses Catholic Bishops
 
President Filipe Nyusi on 16 November challenged the Catholic Church to continue its commitment to achieving the social well-being of Mozambicans and indicated that dialogue should be one of the paths chosen.

 
  17 November, 2019  
 
New water system for Gorongosa inaugurated
 
More than 30,000 people will benefit from clean drinking water in Gorongosa town, in the central Mozambican province of Sofala, thanks to a new water supply system that President Filipe Nyusi inaugurated on 15 November.

 


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