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FEED Contracts Awarded for LNG Development Project in Mozambique

Tokyo, Dec 21, 2012 (JCN) - Mitsui & Co. and its joint venture partners in Mozambique's Rovuma Offshore Area 1 Block (Area 1) were awarded multiple Front-End Engineering and Design (FEED) contracts for both onshore liquefied natural gas (LNG) plant construction and offshore installation.

In 2008, Mitsui acquired a partial interest in Mozambique's Area 1, where a world-class gas field was discovered, and the awarding of FEEDs is within the scope of its development program as LNG.

The awarding of FEEDs marks a major milestone in advancing the development of the vast natural gas resources discovered in Area 1. Mitsui, as a joint venture partner of Area 1, will continue to support the effective promotion of the project and contribute to the energy security of Japan and other Asian countries through the stable supply of LNG from the project.

In addition, Anadarko Mozambique Area 1 Lda, the operator of this project, has reached Heads of Agreement with Eni S.p.A. the operator of the adjacent offshore Area 4 Block, establishing principles for the coordinated development of the common natural gas reservoirs spanning both Mozambique's Offshore Area 1 and Offshore Area 4.

The HOA mentions that both operators will separately conduct offshore development activities, while they will jointly plan and construct common onshore liquefaction facilities in the form of an LNG park in the Cabo Delgado Province of Northern Mozambique.

Partners in Area 1 include Anadarko Mozambique Area 1 Lda 36.5% (Operator), Mitsui E&P Mozambique Area 1 Limited 20%, Empresa Nacional de Hidrocarbonetos, ep 15%, BPRL Ventures Mozambique B.V. 10%, Videocon Mozambique Rovuma 1 Limited 10%, and PTT Exploration & Production Plc 8.5%.

Since 2010, ten deep-water exploration wells have been drilled, out of which seven have confirmed the existence of gas. The estimated recoverable resources within the block for Prosperidade Complex is between 17 to 30-plus trillion cubic feet (Tcf) of natural gas and for Golfinho/Atum Complex it is between 15 to 35 Tcf of natural gas, as of the end of November 2012, which makes it one of the largest gas finds in the world. Exploration work will continue in the block, which is believed to still hold additional hydrocarbon resources.

The project plans to produce 10 million tonnes of LNG per annum in the initial development of the gas resources. The preliminary basic design for this stage is already complete, and the contractors of FEEDs have been awarded with a view to making a final investment decision by the end of 2013 and achieving first LNG cargo in 2018.

Marketing activities of LNG to Japan, Asia and other regions have also begun, and this project is viewed as a means of contributing to securing a stable supply of energy for Japan. It is anticipated that production can be increased gradually depending on the future global demand for gas.

By Chris Lui Staff Writer

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