Exploration & Production

Mozambique hopes rule changes will spur exploration

Mozambique has finally yielded to IOCs’ demands for greater fiscal stability and forex flexibility in contracts Mozambique has finally yielded to IOCs’ demands for greater fiscal stability and forex flexibility in contracts.
By Leigh Elston 27 October 2017 0 28146
An Anadarko drillship off Mozambique. An Anadarko drillship off Mozambique. (Anadarko)

Mozambique is taking its oil laws back to parliament to amend the clauses that have deterred IOCs from making investments in the country.

These changes may finally see the winners of Mozambique’s fifth licensing round, which were announced two years ago, sign contracts and start investing the $700 million they have committed to exploration in the country.

“We have been speaking to companies for a year and have now almost finalised the process,” Jose Branquinho, resource assessment director at the country’s petroleum regulator INP, told Interfax Natural...