New contracts to prospect for hydrocarbons in Mozambique signed by June

Negotiation of contracts for oil and natural gas exploration areas in Mozambique resulting from the fifth international tender launched in 2014, could be finalised by the end of next June, according to government forecasts.

The government of Mozambique approved model contracts for hydrocarbon areas but foreign oil companies are still not sufficiently familiar with the document, which is why they have been asking for further clarification on specific aspects.

An spokesman quoted by daily newspaper Notícias, said details about exchange rates have been the main requests for information sent to the government by the majority of companies awarded concession in the fifth hydrocarbon exploration tender.

“Only after completion of the negotiation will the government sign exploration contracts with the companies,” the spokesman aid, acknowledging that the hydrocarbon sector involves very complex matters, which is why the contracts should be viewed in full detail so that in the future neither party is negatively affected.

The fifth tender for research areas was launched simultaneously in Maputo and London in 2014 and ended at the end of the following year, covering three maritime areas in the Rovuma basin, two in Angoche and six in the Zambezi delta and onshore areas, namely three in Pande/Temane and one in Palmeira region, totalling close to 77,000 square kilometers.

The consortium led by ENI Mozambico was awarded the A5-A area in the Angoche region and the A5-B area was awarded to ExxonMobil E&P Mozambique Offshore Ltd.

This group will also lead research in the Zambezi region, in areas A5-C and A5-D, while Sasol Petroleum Mozambique Exploration leads research in the Pande-Temane zone in areas PT5-C and Delonex Energy will work in P5-A of the Palmeira area.

Source: Macauhub