Mozambique Oil & Gas: Statoil biggest loser on Rovuma natural gas prospecting, quits

Statoil headquartersNorway’s Statoil oil group has decided to give up on negotiations for the exploration and production of natural gas in Mozambique after more than two years of talks with the local government, said the group’s spokesperson quoted by the Interfax Natural Gas Daily website.

“Taking into account the results we achieved after more than two years of negotiations, as well as the current business environment, the group’s management decided to end these negotiations,” said the Statoil spokesman.

Interfax Natural Gas Daily said that the Norwegian group was unable to reach an agreement with the Mozambican government on the conditions for exploration and production of natural gas in the Area A5-A block, and the respective interests were transferred to Italian group ENI. (source: Macauhub)

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