Joint Venture10 Nov 2025, 07:41 pm
Oil India Ltd. Lifts Force Majeure in Area-1 Offshore Rovuma Basin, Mozambique
AI Summary
Oil India Ltd. holds a 4% interest in Area-1 Offshore Rovuma Basin Block in Mozambique through a Joint Venture entity, Beas Rovuma Energy Mozambique Limited (BREML). The initial development of the project is through two LNG trains of total capacity 13.12 MMTPA. In April 2021, due to the degradation of the security situation in Cabo Delgado Province of Northern Mozambique, the Area-1 concessionaires declared Force Majeure and suspended the development activities. Recently, the security situation has significantly improved, leading to the decision to lift the Force Majeure. This disclosure is made in accordance with Regulation 30 of the SEBI (LODR) Regulations, 2015.
Key Highlights
- Oil India Ltd. holds a 4% interest in Area-1 Offshore Rovuma Basin Block in Mozambique through a Joint Venture
- The project's initial development is through two LNG trains of total capacity 13.12 MMTPA
- Force Majeure was declared in April 2021 due to the security situation in Cabo Delgado, Mozambique
- The security situation has significantly improved, leading to the lifting of the Force Majeure
- Disclosure made in accordance with Regulation 30 of the SEBI (LODR) Regulations, 2015