The Mozambican government and Chinese oil major CNOOC signed concession contracts for oil exploration and production in the offshore regions of the Angoche and Save sedimentary basins, in the north and center of the African country.
“This is the culmination of a long process that began in November 2021, when the sixth public tender for the concession of oil exploration and production areas was launched”, said Mozambique’s Minister of Mineral Resources and Energy, Carlos Zacarias.
The agreement allows CNOOC to drill boreholes in five deep-water areas of the Angoche and Save sedimentary basins with an eight year window to carry out the research activities and that the contract should end if no oil or gas is discovered.
“We are embarking on a journey that will have a lasting impact on relations between Mozambique and China on the world energy scene, to ensure that our cooperation has prosperity, sustainability and a bright future,” said Carlos Zacarias.
The president of the National Petroleum Institute (INP, the sector’s regulator), Nazário Bangalane announced that more concession contracts will be signed for oil exploration and production, following the results of the sixth tender launched in November 2021.
Bangalane also stressed that more tenders could be launched, taking into account the Mozambican government’s strategy of investing in natural gas as a contribution to the global energy transition from fossil to clean sources.
China´s CNOOC awarded exploration rights to five hydrocarbon blocks in Mozambique
Mozambique has three development projects approved to explore the natural gas reserves in the Rovuma basin, classified as one of the largest in the world, off the coast of Cabo Delgado.
