The Mozambican government and the consortia that won the fifth oil and gas competitive bidding round for exploration and production concessions in Mozambique will sign their contracts by the first week of October, a source linked to the process said yesterday.
“The contracts will be signed between the end of this month and the first week of October, the dates are still being worked out,” said Carlos Zacarias, president of the sector regulator the National Petroleum Institute of Mozambique (INP).
In August, the Mozambican Council of Ministers approved the terms of oil prospecting and research contracts for five concessions in the central and northern parts of the country.
Prospecting and research were approved for the offshore areas of Angoche (A5) and Pande and Temane (PT5-C) in favour of the ENI, Sasol and Empresa Nacional de Hidrocarbonetos (ENH) consortium.
The ExxonMobil, Rosnef and ENH consortium was awarded the Z5-C offshore area of the Zambezi Delta, and offshore Angoche A5-B and Z5-D areas. The Council of Ministers assigned the concession of the Mazenga onshore area to ENH.
“These concession terms are aimed at conducting oil operations, including seismic data acquisition and drilling and additional technical studies,” Council of Ministers spokesperson said.
The concessions result from the fifth international oil tender launched in 2014 in London, and the INP estimates the companies selected will invest some US$700 million in oil prospecting and research.