Buzi block oil search enters decisive phase

oil bust

The search for oil in the Buzi exploration block in Sofala Province has entered a decisive phase, with the operator about to announce the start of drilling operations to determine the actual availability of oil in the area.

A government source has told Notícias that, initially, three exploration holes will be sunk in the research areas, with the process due to start later this year and last until the beginning of next.

The Buzi block is located in Mozambique’s sedimentary basin, so far one of the least-explored regions from the point of view of hydrocarbon potential.

Natural gas was discovered in Buzi block in the 1960s by US multi-nationals but the amounts identified were considered commercially non-viable. The government subsequently concessioned the area to an Indonesian company for further studies.

Working in partnership with ENH, the company has conducted seismic studies and environmental impact assessments to establish the necessary basis for the development of exploration wells.

The only commercial exploitation of natural gas in Mozambique’s sedimentary basin is currently being carried out by Sasol, in the Pande and Temane fields in Inhambane Province in particular.

Most of the gas recovered is exported to neighboring South Africa.

Sasol has recently announced the discovery of more gas in the Inhassoro region, also in Inhambane Province.

Data compiled by Notícias indicates that natural gas exploitation in Buzi is economically viable, with estimated reserves of at least 1.5tcf – enough to satisfy all domestic consumption needs, including electric power generation.

Overall, Mozambique has gas reserves estimated at over 200tcf, placing the country among the three largest hydrocarbon producers in the world.

Source: Notícias

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