The data from Companhia Moçambicana de Hidrocarbonetos (CMH) revealed that its profits increased by 75% to 64.8 million dollars, between July 1, 2022 and June 30, 2023, compared to the same period last year, when 37.2 million dollars were recorded.
"During this financial year we invested in some additional boreholes in Pande, which reached commissioning in December 2022, and we continue to invest in other additional boreholes in the Pande and Temame fields," says Arsénio Mabote, noting, however, that there are challenges regarding the availability of proven reserves to guarantee the supply of gas under the contracts signed
CMH carries out operational oil production activities and is controlled by the state-owned Empresa Nacional de Hidrocarbonetos, which holds 70% of its share capital and was appointed by the government, together with South Africa's Sasol Petroleum Temane (SPT), to conduct oil operations in the areas of the Pande and Temame production fields, for a period of 30 years, under the Oil Production Agreement signed in October 2000.
That oil company is also part of the Joint Operating Agreements signed with SPT in December 2002, covering the reservoirs of the Pande and Temame fields, since the company only produces and sells gas and operates in an integrated manner.
CMH closed the financial year ending June 30 with total assets that grew to 382.5 million dollars, against liabilities that fell in the same period to 120.5 million dollars. (Lusa/RTP)
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