Mozambique awards licenses to Exxon and Eni for exploration

Mozambique has awarded six exploration licenses for oil and gas, with the potential for $700 million in investments over the next four years, according to Bloomberg. Three licenses for offshore blocks were awarded to ExxonMobil in partnership with Rosneft, and one was awarded to a consortium, led by Eni SpA, that also includes Sasol Ltd. and Statoil ASA.

Onshore rights were awarded to Sasol and to Delonex Energy Ltd., working with India Oil Corp., noted Bloomberg, citing the country’s National Petroleum Institute.

The awarded areas lie in the offshore Angoche and Zambezi basins, and onshore in the Mozambique Basin.

According to the institute, state oil company Empresa Nacional de Hidrocarbonetos (ENH) will have a stake in all the exploration projects.

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