The government of Mozambique intends to spend $150 million on 3D seismic surveys in the blocks included in the fifth international tender for oil and gas exploration, the president of the National Oil Institute (INP) revealed.

The fifth international tender for oil and gas exploration which was opened on October 23, 2014 by INP, comprises of a total of 11 areas in the sea in the Rovuma basin, Angoche, Zambezi delta as well as four onshore basins in Pande/Temane and Palmeiras, encompassing 74,259 km².

“The goal, is to organize a database on the existing oil potential in those blocks, with subsequent delivery to the companies awarded the tender,” Carlos Zacarias said.

He noted that it is customary that utility companies perform their own 3D seismic survey but there are cases whereby it is the country that takes the initiative to perform the survey.

Zacarias added that the government is currently making preparations for the concluding format of the contracts, so that the companies granted the tender can start prospecting works, which they have vowed to invest $700 million on in four years, Macauhub reports.

Anita Fatunji