Investments in oil prospection in the Rovuma Basin, in northern Mozambique, are estimated at 300 million U.S. dollars, as revealed by Arsenio Mabote, chairperson of the board of directors of the National Oil Institute, the Mozambique News Agency (AIM) reported on Sunday.

Addressing reporters in an interval of the meeting between the government and the holders of prospection licenses, Mabote said that 10 companies are involved in the prospection of hydrocarbons in Mozambique.

"This is an activity that involves sectors such as tourism, fisheries, and agriculture. We think that this is the best way to coordinate the activities in this field and prevent any conflict," he was quoted as saying.

He added that it is difficult to predict the outcome of the ongoing prospections, at least for the next eight years.

He said that Mozambique has a potential in terms of hydrocarbons. "This is a country that has natural gas and has a potential for other liquid hydrocarbons, such as oil, but research must be done with patience and persistence."