The Assembly of the Republic approved, in general terms, the proposal to revise the Petroleum Law, which redefines the rules for hydrocarbon exploration in Mozambique.
The new legal framework, consisting of 77 articles, applies not only to operations on national soil but also to all mobile infrastructure and platforms under Mozambican jurisdiction.
One of the central points is the introduction of the protected financing model (free carry), which allows the State to guarantee a participation in projects without the need to invest its own capital during the exploration risk phases. In addition to strengthening economic sovereignty, the law now establishes the obligation for binding agreements with affected local communities and the submission of periodic reports on respect for human rights. On the industrial level, the Government mandates that 100% of the condensate be channeled to the domestic market and that natural gas be supplied at competitive prices to leverage the country’s industrialization.
Source: Miramar News
