ONGC Videsh consortium: LNG project in Mozambique put on hold due to force majeure
Considering the evolution of the security situation in the north of the Cabo Delgado province in Mozambique, the Area 1 Operator Total E&P Mozambique Area 1 Limitada informed the withdrawal of all Mozambique LNG project personnel from the Afungi site. This situation leads Total E&P Mozambique Area 1 Limitada, as operator of Mozambique LNG project, to declare force majeure.
ONGC Videsh Limited, whol ly-owned subsidiary and over seas arm of Oil and Natural Gas Corporation Limited (ONGC), holds 16% Participating Interest (PI) in the Area 1 concession through its subsidiaries ONGC Videsh Rovuma Limited (OVRL) and Beas Rovuma Energy Mozambique Limited (BREML).
Total E&P Mozambique Area 1 Limitada, a wholly-owned subsidiary of Total SE, operates Mozambique LNG with a 26.5% PI alongside ENH Rovuma Área Um, S.A. (15%), Mitsui E&P Mozambique Area1 Limited (20%), OVRL (10%), BREML (10%), BPRL Ventures Mozambique B.V. (10%) and PTTEP Mozambique Area 1 Limited (8.5%).
Oil and Natural Gas Corporation Ltd
Corporate Communications, New Delhi,