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    The Financial Express: Dharmendra Pradhan Visits Mozambique to Push Investment Closure

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Summary

The Indian Petroleum Minister Dharmendra Pradhan is visiting Mozambique to discuss the stalled Rovuma project, which has 3 Indian investors, with the government

by: Erica Mills

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Press Notes, Africa

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The Financial Express: Dharmendra Pradhan Visits Mozambique to Push Investment Closure

To ensure contracts by Indian explorers that have invested billions of dollars in stakes in Mozambique’s assets are concluded, petroleum minister Dharmendra Pradhan is making a three-day visit to the African nation, reports Siddhartha P Saikia in New Delhi. The investments made by ONGC Videsh (OVL), Oil India (OIL) and Bharat PetroResources in the giant gas field Rovuma Area 1 in offshore Mozambique are facing delays as the exploration and production concession contracts (EPCCs), similar to India’s production-sharing contracts (PSCs), are yet to be signed.

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