Firmly anchored in Mozambique, India's ONGC, Bharat and Oil India snubbed by rest of continent

摘要

Cabo Delgado's security crisis does not appear to have discouraged the main oil players in the region from planning for the future. Just two weeks ago, Indian state-run Bharat Petroleum Corp (BPCL) signed a 15- year contract for the purchase of one million tonnes per annum (Mtpa) of LNG from the Mozambique LNG Project of which it owns a 10% share. This project, led with a 26.5% share by French major Total, produces 12.9 Mtpa from Area 1. BPCL is not the only Indian state-owned firm involved on the block: ONGC Videsh, the overseas arm of ONGC, owns 16% and Oil India Ltd (OIL) holds 4%.