The proceeds in question to finance the project of the new State Bank would mainly come from Area 1, led by TotalEnergies, currently suspended, and Area 4, led by Exxon Mobil and ENI, in the Rovuma basin. To the main future contributions to the Sovereign Wealth Fund of Mozambique (SFM), add the promises of the gas concessions awarded in the 5th and 6th tenders.
The FSM was imposed by the International Monetary Fund (IMF) to absorb part of the natural gas revenues in Cabo Delgado, articulating for this purpose with the governor of the BdM, an IMF cadre. BdM advanced with a project in 2020, which referred to the government for consideration after years of references to the need to create a fund for LNG revenues through taxation (Oil Production Tax, Collective Persons Income Tax, including the resulting of surplus-value taxation and production sharing and the production bonus). READ MORE