- Mozambique's state oil and gas company, Empresa Nacional de Hidrocarbonetes (ENH), has today announced the signing of a $30 million deal with an Indonesian mining company, PT Kalila Production.
The deal involves a contract for gas exploration in the central Sofala province of the country.
According to ENH's Chief Executive Officer, Nelson Ocuane, the investment for gas prospection will last the next eight years.
"We have signed the deal for the amount of $30 million and ENH has ceded 75 percent of its shareholding in the Buzi bloc to PT Kalila production, the two companies would have joint operations in technical, research and production," Mr Ocuane told reporters today.
The government last year awarded ENH a licence to explore for gas in Buzi, which is reported to have reserves estimated at well over 10 billion cubic feet. The country is also said to huge gas deposits which have not been tapped into.
Meawhile, Mozambique has also announced 28 October this year for the holding of its presidential and parliamentary elections, where president Armando Guebuza will be seeking the second term amidst reported breaking opposition challenge.
Mr Guebuza came to power in 2005 having won 64 percent votes against 32 percent of the main opposition in the 2004 election.
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