Mozambique Oil & Gas: Govt Exxon to sign Angoche exploration contract in September

Exxon - stena-carron-image-exxon-lnkdn-664x400
Stena Carron drillship used for operations offshore Guyana; Image source: ExxonMobil

The Mozambican government and Exxon Mobil are to sign a contract for oil prospecting and research in September under the 5th international tender for oil and gas research areas in Mozambique launched in 2014, the president of the National Petroleum Institute (INP) said today.

Carlos Zacarias told the media in Maputo that Exxon Mobil will conduct gas exploration and research in the district of Angoche, Nampula province, northern Mozambique, as part of the agreement to be signed with the Mozambican executive.

In addition to Exxon Mobil, Mozambican authorities have selected consortiums led by Italy’s Eni and South Africa’s Sasol in the fifth international hydrocarbon research and exploration tender.

The president of the INP said that US$700 million dollars (590 million Euros) will be invested by the companies involved in the fifth international competition.

Carlos Zacarias pointed out that the delay in signing the concession contracts is due to the fact that the companies requested changes to the contract models to comply with the terms of the tender.

The companies also asked the Government to remove the compulsory registration on the Mozambique Stock Exchange.

The fifth international tender for oil exploration and exploitation was launched in October 2014 in London.

The aforementioned companies already hold other natural gas concessions in Mozambique and participation in the fifth tender will mark the reinforcement of their presence in the country.

Source: Lusa

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