[2023-01-04] Chinese company awarded rights to five hydrocarbon blocks
Source: Permanent Secretariat to the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (Macao)
The Institute of National Petroleum of Mozambique (INP) anounced that, in the sixth licensing round for hydrocarbon exploration, it has awarded in total of five blocks to the Chinese company CNOOC Hong Kong and one block to the Italian energy company ENI.
Three of the blocks granted to CNOOC Hong Kong (A6-R, A6-E and A6-G) are all in the region of Angoche, off the coast of Nampula province. The other two (S6-A and S6-B) are in the Save region, off the coast of Inhambane
According to the INP, the research programmes proposed by CNOOC and ENI for the first period of exploration will allow investments of around US$370 million and the opening of at least four wells in deep waters.
The INP stresses that, despite the unfavorable economic situation, arising from the constraints caused by the Covid-19 pandemic, the proposals received from CNOOC and ENI show that Mozambique remains an attractive country with desirable petroleum potential.