PIEP, Buzy Hydrocarbons to Develop Buzi Block in Mozambique
PT Pertamina Internasional EP (PIEP) and Buzi Hydrocarbons Pte Ltd (BHPL) have signed a Non-Binding Memorandum of Understanding to explore the development of the Buzi Block in Mozambique.
BHPL is a subsidiary of PT Energi Mega Persada Tbk (EMP), owning a 75 percent stake in Buzi, Mozambique, Africa. BHPL also serves as the operator of the Buzi Block.
The MoU, signed on Aug 23, outlines several points of collaboration between PIEP and BHPL:
- Conducting studies and analyses on potential cooperation in operating the Buzi EPCC Block.
- Distributing data concerning the Buzi EPCC Block to study related gas fields.
- Reviewing the potential integration among upstream, midstream, and downstream activities to produce gas as a power generation fuel.
"We aspire to swiftly commence collaboration with PIEP in Mozambique. The gas reserves in Buzi can be expediently commercialized to supply fuel for power generation in Mozambique and its surroundings," BHPL President Taufan Rotorasiko said in a press release on Thursday.
EMP views the collaboration with PIEP to monetize substantial gas reserves and resources in Buzi.
"We hope to promptly commence gas production from our Buzi assets in Mozambique. This can address the issue of gas supply shortages for power generation in Mozambique, South Africa, and neighboring nations," EMP CEO Syailendra S. Bakrie said.