The Mozambican government is in talks with Dionnex Energy concerning the terms for oil and gas exploration by the company in the Palmeira region, in Maputo province.

The U.S oil company has expressed its readiness to invest $100 million in the phase 1 for seismic and aerial surveys, and any further increase in the amount of investment is subject to the results of these surveys.This was declared by the President of Dionnex Energy, Warburger Pincus, when he was received by Filipe Nyusi (photo), the President of Mozambique, this week in New York.

Pincus for personal intervention to speed fast track the completion of the contract under negotiation.Under the direction of the National Petroleum Institute, the international tender for oil and gas exploration in Palmeira was finalized in July 2015.

First oil and gas exploration work in the region was made during the colonial period, and it is assumed that with the use of modern technologies new decisions may be reached regarding the potential of the area, Macauhub reports.

Anita Fatunji