Bharat Petro Resource, a wholly owned subsidiary of Bharat Petroleum Corporation, advices that Anadarko Petroleum Corporation, USA, the operator of Mazambique's offer Area 1 block, has reached Heals of Agreement with Eni, the operator of Mozambique's Offshore Area 4 Block. This HOA establishes foundational principles for the coordinated development of the commen naural gas reserviors spanning both Offshore Area 1 and Area 4.
The HOA is designed to fecilitate a work program whereby the two operators will conduct seperate, yet coordinated offshore development activities, while jointly planning and constructing common onshore liquefaction facilities in the Cabo Delgado Province of northen Mozambique. This is a significant step towards achieving the target of first LNG cargo by 2018.
