Policy & Regulation

Mozambique removes last obstacle to new exploration

The government has exempted IOCs from a rule requiring oil and gas concessionaires to list on the local stock exchange The government has exempted IOCs from a rule requiring oil and gas concessionaires to list on the local stock exchange.
By Leigh Elston 11 July 2018 0 31688
A drillship off Mozambique. (Anadarko)

The government of Mozambique agreed on Tuesday to amend regulations requiring international oil and gas companies to list on the local stock exchange, paving the way for contracts to be signed for five new exploration blocks after two-and-a-half years of delays.

The winners of Mozambique’s fifth exploration licensing round were announced in October 2015. However, the companies have still not signed exploration and production concession contracts (EPCCs) for their blocks. They want to secure greater fiscal stability over the life of the contracts,...