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TotalEnergies is the project operator with a 26.5% stake, followed by Mitsui & Co with 20%, while Mozambique’s state-owned ENH has 15%. Indian state firms ONGC Videsh, Bharat PetroResources and Oil India together hold 30% in the project, with Thailand’s PTTEP owning the remainder.
India’s state-run Oil India Ltd expects a US$20-billion, TotalEnergies-operated Mozambique liquefied natural gas project in which it owns a stake to restart development by the end of this year, its chairman Ranjit Rath said.
TotalEnergies halted construction of the project and imposed force majeure in 2021 following a deadly attack on the site by Islamic State-linked insurgents. TotalEnergies CEO Patrick Pouyanne said in June he expected development to resume this summer.
TotalEnergies is the project operator with a 26.5% stake, followed by Mitsui & Co with 20%, while Mozambique’s state-owned ENH has 15%. Indian state firms ONGC Videsh, Bharat PetroResources and Oil India together hold 30% in the project, with Thailand’s PTTEP owning the remainder.
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Explorer Oil India also holds a minority stake in the Vankorneft and Taas-Yuryakh projects in Russia.Rath said Oil India has received dividends equivalent to 91% of its investment in the Russian projects.
