Oil India, ONGC Videsh and Bharat PetroResources jointly own 30% of the project. Credit: Shashi_lata/Shutterstock.com.

Oil India expects the Mozambique liquefied natural gas (LNG) project, operated by TotalEnergies, to resume operations by the end of this year, reported Reuters. 

The project, valued at $20bn (€16.98bn), is owned by TotalEnergies with a 26.5% stake, while Oil India, ONGC Videsh and Bharat PetroResources jointly own a 30% stake. 

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Mitsui & Co. and Mozambique’s state-owned ENH own 20% and 15% stakes, respectively, while Thailand’s PTTEP holds the remaining interest. 

The Rovuma Area 1 project is designed to include two LNG trains with a combined capacity of 13.12 million tonnes per annum (mtpa). 

In June 2019, the joint venture (JV) partners reached a final investment decision (FID) for the Golfinho-Atum Mozambique LNG Project. 

Additionally, they have secured long-term LNG sales agreements totalling 11.13mtpa with major buyers in Asia and Europe, including India. 

The project financing was finalised in March 2021, and construction contracts were awarded for initial work on both onshore and offshore sites. 

However, TotalEnergies declared force majeure on the project in April 2021 due to security concerns in Mozambique’s Cabo Delgado province. 

According to Oil India’s 2024–25 annual report, the JV partners are planning to lift the force majeure and resume project activities. 

Oil India’s estimated 2P (proved and probable) reserves for its share in Rovuma Area 1 include 16.21 million tonnes of oil equivalent of natural gas and 460,000 tonnes of condensate, as of March 2025. 

Oil India chairman Ranjit Rath said: “With improved security conditions, the project is expected to restart in the second half of 2025 and is well-positioned to meet the growing demand of the Indian gas market. 

“Oil India has received dividends equivalent to 91% of its investment in the Russian projects. 

“A highlight of the year was the robust dividend flow from Russian assets, amounting to $942m, representing over 91% of our original investment in Vankorneft and Taas-Yuryakh, with full recovery expected in the coming year.” 

In 2023, TotalEnergies published a report formulating an action plan for the return to operation of the Mozambique LNG project.