Qatar Petroleum enters oil prospecting in Mozambique

11 December 2018

Qatar Petroleum has signed an agreement with US group Exxon Mobil to acquire a 10% stake in three maritime exploration blocks in Mozambique, the company said in a statement.

The consortium involved in the three blocks in the Angoche and Zambezi basins is now made up of ExxonMobil, as operator with a 50% stake, the Mozambican state-owned Empresa Nacional de Hidrocarbonetos with 20%, Russian group Rosneft, also with 20% and state-owned Qatar Petroleum with the remaining 10%.

Block A5-B in the Angoche basin covers an area of ​​6,450 square metres with a depth between 1,800 and 2,500 metres and blocks Z5-C and Z5-D in the Zambezi basin cover an area of ​​10,200 square kilometres with a depth of between 200 and 2,000 metres.

The statement from Qatar Petroleum said that this agreement signed with US group Exxon Mobil represents the first time the company has operated in the oil sector in Mozambique. (macauhub)