PTTEP of Thailand’s proposed $1.9 billion acquisition of Cove Energy has been approved by the government of Mozambique, meaning all eyes are now on rival suitor Shell to see if the Anglo-Dutch supermajor increases its bid.
Maputo’s support for the state-run outfit’s acquisition of an 8.5% stake in offshore Area 1 surprised some observers as Shell’s LNG experience has been considered important in commercialising the asset’s huge gas resource.
Analysts
