Business Update12 Nov 2025, 06:11 pm
ONGC: Force Majeure Ends in Area 1 Mozambique LNG Project
AI Summary
Oil and Natural Gas Corporation Ltd. (ONGC) announced the end of the Force Majeure in the Area 1 Mozambique LNG Project. The project, which ONGC holds a 16% interest in through its subsidiaries ONGC Videsh Rovuma Limited (OVRL) and Beas Rovuma Energy Mozambique Limited (BREML), had been suspended since May 2021 due to security issues in the Cabo Delgado province. The improved security situation has allowed the consortium to notify the Mozambique government of the Force Majeure's end, enabling the restart of construction activities for an early project completion.
Key Highlights
- ONGC announces end of Force Majeure in Area 1 Mozambique LNG Project
- Project had been suspended since May 2021 due to security issues
- Improved security situation allows for restart of construction activities
- Project holds a 16% interest for ONGC through its subsidiaries
- Early project completion expected