Bharat Petroleum intimates of declaration of force majeure at Mozambique LNG project

Bharat Petroleum through its step down subsidiary has 10% PI in Offshore Area 1, Rovuma Basin, Mozambique Block

Bharat Petroleum Corporation announced that considering the evolution of the security situation in the north of the Cabo Delgado province in Mozambique, the Area 1 Operator, Total E&P Mozambique Area 1 Limitada, informed the withdrawal of all Mozambique LNG project personnel from the Afungi site.This situation leads Total E&P Mozambique Area 1 Limitada, as operator of Mozambique LNG project, to declare force majeure.

BPRL Ventures Mozambique B.V., an overseas subsidiary of Bharat PetroResources (BPRL) which is wholly owned subsidiary of BPCL, holds 10% Participating Interest (PI) in the Area 1 concession. Total E&P Mozambique Area 1 Limitada, a wholly owned subsidiary of Total SE, operates Mozambique LNG with a 26.5% participating interest along side ENH Rovuma ea Um, S.A. (15%), Mitsui E&P Mozambique Area1 Limited (20%), ONGC Videsh Rovuma Limited (10%), Beas Rovuma Energy Mozambique Limited (10%) and PTTEP Mozambique Area 1 Limited (8.5%).

BPCL cautions that the forward-looking statements are based on reasonable assumptions and no assurance can be given that such expectations will prove to have been correct. A number of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed

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