Mozambique: ENH distributed 5 billion meticais in dividends to the State since 2018

The Empresa Nacional de Hidrocarbonetos (ENH), Mozambique’s state-owned hydrocarbon operator, has distributed 5 billion meticais (€68 million) in dividends to the State since 2018, highlighting its role as a pillar of the national economy, it was announced today. “ENH is today one of the pillars of the national economy. It contributes to revenue generation, but also delivers dividends to the Mozambican State which, after a long journey to achieve the expected financial sustainability, has delivered around 5 billion meticais to State coffers since 2018,” said ENH Chairperson Ludovina Bernardo.

She spoke in Maputo during the celebrations of the company’s 45th anniversary, marked by the launch of the ENH Journalism Award, which aims to encourage journalistic content and stimulate research in this sector. The company will also hold technical sessions on local content, lectures, and educational, cultural, and community initiatives to bring the energy sector closer to the Mozambican population. On the occasion, the Secretary of State for Mines said that ENH’s history belongs to the country, which recognises gas as a way for Mozambique to sustain “collective ambitions.” “We celebrate ENH’s 45 years, an institution that started small but with boldness.

Over these decades it has learned to transform invisible signals into tangible wealth, converting profound promises into national pride,” said Jorge Daudo. Created in 1981, ENH participates in all oil operations and the respective phases of exploration, research, production, refining, transport, storage, and marketing of hydrocarbons and their derivatives, including Liquefied Natural Gas (LNG) and Gas-to-Liquids (GTL), both domestically and abroad. Mozambique has three approved megaprojects for the development of LNG reserves in the Rovuma Basin, ranked among the largest in the world, off Cabo Delgado.

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One of these projects is by TotalEnergies, and another by ExxonMobil (18 mtpa), valued at US$30 billion (€26.1 billion), awaiting a final investment decision, both in Afungi. In addition, the Italian company Eni has been producing around 7 mtpa since 2022 from the Coral Sul floating platform, which will be doubled from 2028 with the Coral Norte platform, in an investment of US$7.2 billion (€6.2 billion).

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