ExxonMobil/Rosneft consortium starts oil prospecting in Mozambique in 2nd half

26 May 2017

The consortium involving US group ExxonMobil and Russia’s Rosneft plans to start oil prospecting in Mozambique in the second half of the year, according to the report and accounts released recently.

“In October 2015, the consortium between Rosneft and its partner ExxonMobil obtained licenses for the geological prospecting of three blocks in the Mozambican sea, with the start of the exploration work scheduled for the second half of 2017, after signing the concession contracts with the Mozambican government,” said the statement quoted by the Tass news agency.

In 2015, three blocks were allocated to the ExxonMobil (60%) and Rosneft (20%) consortium, one in the Angoche basin and the other two in the Zambezi basin in central Mozambique.

At the same time, a fourth block was allocated to the consortium made up of Italian group ENI (34%), Sasol Petroleum (25.5%) of South Africa and Statoil (25.5%) from Norway.

In all four blocks the Mozambican state-owned company Empresa Nacional de Hidrocarbonetos holds 20%. (macauhub)

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