CNOOC signs E&P contracts for Mozambican blocks

MAPUTO, May 24, 2024 – CNOOC has entered into E&P contracts with the Ministry of Mineral Resources and Energy of Mozambique and Empresa Nacional de Hidrocarbonetos (ENH) for five offshore blocks in Mozambique, the company announced on Friday.

The blocks involved are S6-A and S6-B in the Save Basin and A6-D, A6-E and A6-G in the Angoche Basin. They cover a total area of approximately 29,000 square kilometres in water depths between 500 and 2,500 metres offshore Mozambique.

The blocks were awarded in March 2024 as part of Mozambique’s sixth licensing round.

Contract terms establish an initial exploration phase of four years. The blocks will be operated by CNOOC subsidiaries which will independently own the operating interest in each block.

Specifically, the interest owned by CNOOC subsidiaries will be 70% of S6-A, 77.5% of S6-B, 77.5% of A6-D, 80% of A6-E and 79.5% of A6-G. All remaining non-operating interests will be owned by ENH.

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