ONGC Videsh Update: Mozambique LNG Project Resumes
OIL & GAS

ONGC Videsh Update: Mozambique LNG Project Resumes

ONGC Videsh Limited, the wholly owned subsidiary and overseas arm of Oil and Natural Gas Corporation Limited (ONGC), has announced that the Force Majeure on the Mozambique LNG Project in Area 1 has been lifted, enabling construction activities to restart.

ONGC Videsh holds a 16 per cent interest in the Area 1 concession through its subsidiaries ONGC Videsh Rovuma Limited (OVRL) and Beas Rovuma Energy Mozambique Limited (BREML). The project is operated by Total E&P Mozambique Area 1 Limitada, a wholly owned subsidiary of TotalEnergies SE, which holds a 26.5 per cent participating interest. Other partners include ENH Rovuma Area Um, S.A. (15 per cent), Mitsui Rovuma Offshore Area 1 Limited (20 per cent), OVRL (10 per cent), BREML (10 per cent), BPRL Ventures Mozambique B.V. (10 per cent) and PTTEP Mozambique Area 1 Limited (8.5 per cent).

The 13.12 MMTPA LNG project began construction in 2019 but was halted in May 2021 when Force Majeure was declared due to a deteriorating security situation in Cabo Delgado province. With the security environment now significantly improved, the Area 1 consortium has formally notified the Government of Mozambique of its decision to end the Force Majeure.

The withdrawal allows construction to resume, paving the way for the early completion of the project, which is a key development in Mozambique’s Rovuma Basin and an important energy investment for ONGC Videsh and its partners.

ONGC Videsh Limited, the wholly owned subsidiary and overseas arm of Oil and Natural Gas Corporation Limited (ONGC), has announced that the Force Majeure on the Mozambique LNG Project in Area 1 has been lifted, enabling construction activities to restart. ONGC Videsh holds a 16 per cent interest in the Area 1 concession through its subsidiaries ONGC Videsh Rovuma Limited (OVRL) and Beas Rovuma Energy Mozambique Limited (BREML). The project is operated by Total E&P Mozambique Area 1 Limitada, a wholly owned subsidiary of TotalEnergies SE, which holds a 26.5 per cent participating interest. Other partners include ENH Rovuma Area Um, S.A. (15 per cent), Mitsui Rovuma Offshore Area 1 Limited (20 per cent), OVRL (10 per cent), BREML (10 per cent), BPRL Ventures Mozambique B.V. (10 per cent) and PTTEP Mozambique Area 1 Limited (8.5 per cent). The 13.12 MMTPA LNG project began construction in 2019 but was halted in May 2021 when Force Majeure was declared due to a deteriorating security situation in Cabo Delgado province. With the security environment now significantly improved, the Area 1 consortium has formally notified the Government of Mozambique of its decision to end the Force Majeure. The withdrawal allows construction to resume, paving the way for the early completion of the project, which is a key development in Mozambique’s Rovuma Basin and an important energy investment for ONGC Videsh and its partners.

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