The government of Mozambique on Friday announced approval of the final investment decision for the project that will develop the Inhassoro, Temane and Temane-East reservoirs, north of Inhambane province.
The Ministry of Mineral Resources and Energy (MIREME) says in a press release that the approved investment for the project, which will be developed by Sasol Mozambique Limitada and its partners, is 755 million US dollars.
“The start of the development phase is expected for July 2021, which is subject to the financial closure of the Temane Thermal Power Plant (CTT) project, and the Monetization Agreements and Commercial Facilitation Agreements are under approval,” stresses the source.
Last year, the Council of Ministers approved the amendment to Sasol’s development plan concerning the Inhassoro, Temane and Temane-East deposits of the Production Sharing Agreement (PSA), through Council of Ministers Resolution No. 3/2020 of September 29.
“The contract aims at the integrated development of 23 PJ/a of natural gas destined
the generation of energy, through the CTT project, the production of 4 thousand barrels per day (during the peak) of light oil for export and implementation of the LPG project of 30 thousand tons/year of LPG (cooking gas) for the domestic market,” says MIREME in the statement.
Also according to the source, this is one of the crucial projects for the economic development of Mozambique and is framed in the Government’s Five Year Plan 2020-2024.
“It provides for the construction of a new light oil and gas processing unit to process the above quantities, in addition to creating about 3,000 jobs by 2024,” it stresses.
