Continental Focus, International Reach

Mozambique Backs ENH Eurobonds

Monday, April 1, 2019

The government of Mozambique will grant a State endorsement on the issue of Eurobonds by oil company ENH in order to guarantee its participation in natural gas projects, according to an Economist Intelligence Unit (EIU) report.
ENH has a 15% stake in the Area 1 block, led by the Anadarko Petroleum group, and its involvement in the financing of the project is estimated at $2 billion, which the company intends to raise in international markets.
The EIU writes in its latest report on Mozambique that the project is financially secure, supported by credible oil companies, is transparent and has been approved by the Mozambican parliament.