Project Profile
Location: Mozambique, Africa
Reserves: 283 billion cubic feet of 2P gas reserve (and 13.4 trillion cubic feet of gas prospective resources)
Start-up year: 2017
PT Energi Mega Persada Tbk. (ENRG) has acquired oil & gas Exploration and Production Concession Contract (EPCC) for Buzi EPCC Block in Mozambique, Africa. With this purchase, ENRG will own 75% participating interest in the Block, partnering the Mozambique government who owns 25% through Empressa Nacional de Hidrocarbonetos (ENH). The US$175 million acquisition is projected to start production in 2017. ENRG funds the acquisition with a combination of the Company\'s internal cash flow and loan financing. Buzi EPCC Block has caught the attention of many international oil and gas companies, especially after 283 billion cubic feet (Bcm) of proved & probable gas reserve was discovered, which is expected to commence production by 2017. In addition, the block has 13.4 trillion cubic feet (Tcf) of gas prospective resources.
Operators:
PT Energi Mega Persada Tbk. (ENRG): Operator with 75% interest
Empressa Nacional de Hidrocarbonetos (ENH): 25% interest