Petroleum Africa
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Monday, January 20, 2014
Mozambique will sign a MoU with India to accelerate cooperation between the two countries in the hydrocarbon sector. A draft of the MoU between the two governments has been prepared and sent to the Indian High Commission in Mozambique. The decision to enter into the MoU was taken at a meeting between India’s Petroleum Minister M. Veerappa Moily and Mozambique’s Minister for Mineral Resources Esperanca Bias at the Petrotech 2014 international oil and gas conference.
“We need to expedite the signing of this MoU as soon as possible,” Moily said after the meeting.
“We have invited Mr. Moily and the Indian ministerial delegation for the formal signing of this MoU, to document this government-to-government cooperation,” Bias said.
According to an official statement, Moily has urged his Mozambican counterpart to expedite the consortium related issues and also fast-track the development of the discovered assets in the Rovuma Basin, where Indian firm’s hold stakes. State-run explorer ONGC and Oil India have a 20% stake in Offshore Area 1 and Bharat Petro Resources Ltd. holds a 10% stake in the block.
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