Thailand’s PTTEP Group plans to invest US$1 billion in Rovuma gas development

Mozambique Oil & Gas: Thailand’s PTTEP Group plans to invest US$1 billion in Rovuma gas development

Posted by Mozambique Resources Post on September 18, 2014

Posted in: Mozambique Oil and Gas Industry. Tagged: Cabo Delgado, Mozambique, Oil & gas, Palma, PTTEP,rovuma basin. Leave a comment

PTTEP CEO Tevin Vongvanich

Thai state group PTT Exploration and Production (PTTEP) said Monday it planned to invest up to US$1 billion in a project in Mozambique within 5 to 6 years beginning in 2015, financial news agency Reuters reported.

The group’s chief executive, Tevin Vongnavich, noted that the project aims to be producing 10 million tons of liquefied natural gas from late 2018 or early 2019.

In 2012 the Thai state group acquired Irish company Cove Energy, which had an 8.5 percent share of the Area 1 block in the Rovuma Basin, northern Mozambique, operated by US-based Anadarko Petroleum. (macauhub/MZ)