China’s CNOOC Acquires Five Offshore Blocks in Mozambique

Friday, May 24, 2024

China’s state-run China National Offshore Oil Corporation (CNOOC) has through its wholly owned subsidiaries acquired five offshore oil and gas blocks in Mozambique.

CNOOC’s subsidiaries have entered into petroleum exploration and production concession contracts (EPCCs) with the Ministry of Mineral Resources and Energy of Mozambique (MIREME) and Empresa Nacional de Hidrocarbonetos (ENH).

The contracts were signed for a total of five blocks, including S6-A, S6-B, A6-D, A6-E and A6-G, all located offshore Mozambique.

The total area is approximately 29,000 square kilometers, with water depths from 500 to 2,500 meters.

According to the terms of the contracts, the first stage of the exploration period of the blocks will be four years.

The five wholly owned subsidiaries of CNOOC will act as the operators in the exploration and development phases and independently own the operating interests in the five blocks (S6-A 70%, S6-B 77.5%, A6-D 77.5%, A6-E 80%, A6-G 79.5%).

ENH owns the remaining non-operating interests (S6-A 30%, S6-B 22.5%, A6-D 22.5%, A6-E 20%, A6-G 20.5%).

Categories: Industry News Activity Africa Oil and Gas

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