Exploration & Production

Mozambique exploration contracts finalised by May – minister

Mozambique’s energy minister expects to submit new exploration contracts to the government next month following more than two years of delays Mozambique’s energy minister expects to submit new exploration contracts to the government next month following more than two years of delays.
By Leigh Elston 26 March 2018 0 30152
Mozambican Energy Minister Max Tonela (right) at the German-Mozambican Economic Forum in Maputo. (PA) Mozambican Energy Minister Max Tonela (right) at the German-Mozambican Economic Forum in Maputo. (PA)

After more than two years of delays, Mozambique’s energy minister has said that exploration contacts with the winners of the country’s fifth licensing round should be finalised by the end of April.

The successful bidders for six exploration blocks in the country were announced in October 2015, but negotiations over signing the exploration and production concession contracts (EPCCs) have dragged on as companies wanted more clarification on issues of fiscal and exchange stability. “Parliament last year made this clarification. We have been working with the Bank...