Canada’s Artumas signs offshore oil exploration contract in northern Mozambique

25 April 2007

Maputo, Mozambique, 25 April – Canadian energy company Artumas has signed an oil exploration and production concession contract for an offshore bloc in Mozambique’s River Rovuma in the northern province of Cabo Delgado, media have reported.

State news agency AIM reported that the contract, valid for three years and obliging Artumas to invest around US$ 20 million, was signed 18 April. Test drilling will involve 2D seismic data and the reopening of a well drilled by another company.

Artumas, the fourth oil company to be licensed on the Mozambican side of the River Rovuma, already has an exploration concession on the opposite bank of the river in neighboring Tanzania. (macauhub)