Oil India targets first Liquid Natural Gas (LNG) cargo from Mozambique block by 2020

(2015-08-12) Oil India Ltd expects to receive the first cargo of liquefied natural gas from Mozambique’s offshore Area 1 Block in in the first quarter of 2020, the company said in a statement on Wednesday.

The company has a 4 percent stake in the block.

Oil India also said the Carabobo Basin asset in Venezuela was producing 16,000 barrels per day (bpd), and the rate could jump to 90,000 bpd by 2017.

It has a 3.5 percent stake in the block.

Source: Reuters

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