africa commodities Economy Energy FDI Finance Gas Mozambique Natural Resources

Rosneft plans to start offshore exploration in Mozambique

Russia’s state-owned oil company Rosneft, in a consortium with ExxonMobil, plans to begin exploration work in the offshore zone of Mozambique in the second half of 2017, the company’s annual report says.

“In October 2015, Rosneft consortium with its partner ExxonMobil received licenses for geological exploration of three blocks (A5-B, Z5-C and Z5-D) in the offshore zone of the republic of Mozambique. The start of exploration work for the project is scheduled for the second half of 2017 after the signing concession agreements with the government of Mozambique,” the document said.

Source: TASS

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