The Mozambican government will this week approve the contract models for the companies that won the fifth international oil prospecting competition in the country.
Tavares Martinho, the exploration and production administrator at Empresa Nacional de Hidrocarbonetos (ENH), the company that manages the Mozambican state’s shares in the sector, told Newspaper Notícias today that the first concession contracts would be signed in August.
For the fifth international tender for research, exploration and exploitation of hydrocarbons, the consortia selected were ENI Mozambico S.p.A, for area A5-A located in the Angoche basin; ExxonMobil E & P Mozambique Offshore Ltd, for area A5-B, located in the Angoche basin, and areas A5-C and A5-D located in the Zambezi basin.
Tavares Martinho added that the concession contracts would attract more than US$3 billion (2.5 billion Euros) over eight years, of which US$700 million (590 million Euros) would be invested in the first four.
The fifth licensing round for oil and gas exploration and exploitation in Mozambique was launched in London in October 2014.