In its regulatory filing today, BPCL said, "considering the evolution of the security situation in the north of the Cabo Delgado province in Mozambique, the Area 1 Operator, Total E&P Mozambique Area 1 Limitada, informed the withdrawal of all Mozambique LNG project personnel from the Afungi site," adding, "this situation leads Total E&P Mozambique Area 1 Limitada, as operator of Mozambique LNG
the project, to declare force majeure."
BPRL Ventures Mozambique B.V. holds about 10% Participating Interest (PI) in the Area 1 concession. BPRL Ventures is an overseas subsidiary of Bharat PetroResources Ltd (BPRL) which is a wholly-owned subsidiary of BPCL.
Total E&P Mozambique Area 1 Limitada, a wholly-owned subsidiary of Total SE, operates Mozambique LNG with a 26.5% participating interest along with side ENH Rovuma Área Um, S.A. (15%), Mitsui E&P Mozambique Area1 Limited (20%), ONGC Videsh Rovuma Limited (10%), Beas Rovuma Energy Mozambique Limited (10%) and PTTEP Mozambique Area 1 Limited (8.5%).
On Sensex, BPCL closed at Rs420.30 per piece up 0.4%.