Anadarko Petroleum gets green card for its LNG project in Mozambique
WorldOil – Mozambique’s council of ministers approved the development plan for Anadarko Petroleum Corp.’s liquefied natural-gas project in the north of the nation, an investment estimated at about $20 billion.
The government announced the decision in a statement on Tuesday. The next major requirement that the Anadarko-led consortium has to meet before reaching a final investment decision on the Area 1 project is to sign enough sales and purchase agreements, according to the company.
Anadarko and its partners have agreed the price and volumes for 5.1 million metric tons a year of gas production, out of the 8.5 million tons required to reach financial close, the company said in a statement Tuesday. During the last quarter of 2017, it signed an agreement with Tohoku Electric Power Co. of Japan to sell it gas.
Anadarko said it’s already started resettling communities from the land where it plans to build its liquefied natural-gas plant.
ExxonMobil Corp. and Eni SpA are developing another gas project near Anadarko’s. The development of Mozambique’s gas deposits could make the southeastern African nation the world’s fourth-biggest natural gas exporter.
Related News: Saipem scoops $230-million job in Mozambique
Saipem and Eni have signed a contract for offshore drilling activity in Mozambique, utilizing the drillship Saipem 12000. The contract is of 15 months’ duration commencing mid-2019. It includes options up to a maximum of 45 months, not comprised in the contract value.
In addition to this contract, which will allow the Company to participate in the development of the Coral field, Saipem has been awarded other offshore drilling contracts. The activities related to the other acquisitions will be executed in the Mediterranean and the Black Sea and will utilize cutting-edge vessels from the Company’s fleet.
The total value of these new contracts is $230 million.
Significantly, Eni has awarded Saipem a contract for the drilling of two wells offshore Cyprus. Work will once again be carried out by the Saipem 12000 and commence in the fourth quarter of 2017. The vessel will be subsequently deployed in Portugal for operations previously announced in 2016 and postponed at the request of the client. These awards attest to Saipem’s consolidation in the area of the Mediterranean where the drillship Saipem 10000 is already active. They also reinforce the Company’s presence in a market of particular interest where important discoveries have recently been made.
Finally, the semisubmersible rig Scarabeo 9 will be utilized for the drilling of one well, plus an optional one, in the Black Sea. In service since 2011, the Scarabeo 9 is undergoing innovative upgrades, whose expenses are included in the contract. These upgrades will enable it to pass through the Bosphorus. This is a particularly important development in view of the interesting opportunities for offshore drilling in ultra-deep water in the Black Sea area.
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Saipem has been awarded new contracts and the extension of pre-existing agreements in the onshore drillingsector in Saudi Arabia, Morocco, Bolivia and Argentina for a total value