ENH Emphasizes need to Reach FID on LNG Projects in 2017

The President of the Board of Directors of Empresa Nacional de Hidrocarbonetos (ENH), Omar Mithá, believes that the implementation of LNG projects will have a major impact on poverty alleviation And in stimulating the country’s development.

Mithá defended this position by speaking this Monday, in Florence, Italy, during the 18th Meeting of GE Oil & Gas. At that meeting, ENH’s President participated in a panel on the challenges and perspectives of the oil industry in the world and in Mozambique, in particular.

In its speech, ENH’s PCA highlighted the importance of reaching the Final Investment Decision (FID) for Rovuma Basin projects in both Area 1 and Area 4 later this year in order to ensure its viability.

“The implementation of these projects promoted by the concessionaires and operators of Area 1, Anadarko, and Area 4, Eni, will have a major impact on job creation, poverty alleviation in Mozambique and stimulate the country’s economic development,” said Mitha.

Also on the occasion, Omar Mithá highlighted the high national potential in hydrocarbon reserves estimated at around 200 trillion cubic feet as well as the location of Mozambique close to the reference markets of Asia and Europe, making it a strategic country for the energy industry.

On the other hand, Omar Mithá expressed optimism regarding the entry to the national market of new players in the industry, such as ExxonMobil, following the fifth tender, as it could bring more challenges to industry, greater competitiveness and greater Trust and credibility of Mozambique.

According to Mithá, this measure will thus attract more and more foreign direct investment and benefits resulting from actions of local content.

Responding to a question about ENH’s strategy to cope with the current industrial environment influenced by the impact of falling oil prices, Mithá said the company has a long-term vision that focuses on the best contracts and partnerships with Strong shareholders, with technical capacity and financial strength.

The 18th Annual Meeting of GE Oil & Gas ended this Tuesday and brought together the major partners of this multinational, including clients and service entities, to address issues related to the dynamics and challenges of the oil and gas industry in the World, and in particular in the markets where GE Oil & Gas operates.

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