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Mozambique awards multiple offshore exploration contracts

Mozambique has awarded Eni, Statoil, Sasol and ENH exploration and development rights of the offshore block A5-A

The award was made following the 5th Competitive Mozambique Bid Round, and the offshore block A5-A is in the Angoche area of Mozambique, about 1,500 km northeast of the capital, Maputo. The block covers a total area of 5,145 sq km in water depths between 200 and 1,800 meters, and it is placed within an unexplored area of the Northern Zambesi Basin, which, according to estimates made by the consortium, contains significant hydrocarbon resources.

Eni, through its subsidiary Eni Mozambico, holds 34 per cent stake and is the operator of the joint venture. Partners Statoil and Sasol both hold a 25.5 per cent stake and ENH owns the remaining 15 per cent.

According to a report in Reuters, Mozambique has also awarded exploration contracts to ExxonMobil, Eni and Sasol for 15 blocks in both onshore and offshore fields. The area of these awards is said to be about 74,250 sq km and includes blocks around the northern Rovuma Basin where Eni is building an LNG export facility.

Eni has been present in Mozambique since 2006 and is the operator of Area 4 with a 50 per cent indirect stake, owned through its subsidiary, Eni East Africa.

Source : www.oilreviewafrica.com
Posted On: 11/3/2015 12:00:00 AM

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