Maputo - The Italian energy company, ENI, is optimistic it
will find a huge oil deposit in northern Mozambique's Rovuma Basin, a
top Italian official told reporters Tuesday in the country's capital.
Italy's Deputy Minister for Economic Development Adolfo Urso said
ENI's exploration since 2007 has confirmed its optimism about the
potential, especially in the offshore segment of the basin.
'There is a greater likelihood of finding large oil
deposits in the deep waters offshore', he said.
Seismic surveys and drilling started at the beginning of 2007
after the government awarded exploration concessions to ENI and three
other companies - Norway-listed Artumas, the US Anadarko and Petronas
of Malaysia.
The companies have invested an estimated 300 million dollars in
drilling eight exploratory wells. The 400-km-by-160-km Rovuma Basin
is centred on the Rovuma Delta near the border between Mozambique and
Tanzania.
The basin is both onshore and offshore, according to Mozambique's
National Petroleum Institute, and covers about 60,000 square
kilometres in the provinces of Nampula and Cabo Delgado.
Urso was in Mozambique leading a group of Italian investors
looking for opportunities and perspectives in Mozambique.
He said the Italian government would help Italian firms to set up
in Mozambique, with a view to having a base for further investments
in the 14-member Southern African Development Community that includes
Zambia, Zimbabwe and South Africa.
Besides Italian interest in fossil fuels, showcased by the huge
investment in the drilling, Italy is also interested in investing in
Mozambique's alternative energy sources such as biofuels.
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