BPCL: Total declares force majeure at Mozambique LNG project

BPRL Ventures Mozambique B.V. holds about 10% Participating Interest (PI) in the Area 1 concession.

Apr 27, 2021 04:04 IST India Infoline News Service

BPCL
State-owned BPCL on Tuesday said that Total E&P Mozambique Area 1 Limitada has informed about the withdrawal of all Mozambique LNG project personnel from the Afungi site.

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%. 

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