French oil group widely touted as new operator of Moz gas project

Massive reserves of gas were found in northern Mozambique’s Rovuma Basin Area 1.

An announcement on the winning bid to operate the lucrative Rovuma Basin Area 1 block in Mozambique – where large reserves of natural gas have been discovered – will be made next month.

It is widely believed that French oil group Total will become the new operator after the Chevron Corporation withdrew its bid to acquire Andarko Petroleum Group, paving the way for a merger between Andarko and Occidental Petroleum Group.

In a statement, Anadarko announced it had reached a definitive merger agreement with Occidental Petroleum Corporation.

The Occidental group has “on principle” approved the sale of Andarko’s African assets to Total which includes the Rovuma Basin area. Andarko discovered the 75 trillion cubic feet of natural gas in the area.

Andarko said it would make a final announcement on the operator for the Rovuma Basin Area 1 on June 18.

 


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