25-08-09 Mozambique's oil exploration investment could exceed EUR 550 mm ($ 786 mm) by 2011, state-controlled Radio Mozambique reported, citing National Petroleum Institute Chairman Arsenio Mabote.
Mabote said projections were based on the number of contracts signed between the government and 10 oil companies operating in the southern African country since 2006, according to the report.

Oil exploration is more intensive along the Rovuma Basin and between the northern and central regions of Mozambique, where multinational companies including Canada-based Artumas Group, Italy's ENI and Anadarko Petroleum from the US are operating.