Exploration & Production

Mozambique signs exploration agreements

Mozambican regulator the National Petroleum Institute has signed exploration contracts with ExxonMobil and Rosneft
By Staff reporter 10 October 2018 0 32851

Mozambican regulator the National Petroleum Institute has signed exploration contracts with ExxonMobil and Rosneft, Reuters has reported.

The deals will lead to the development of 10 new wells, eight of which will be in deepwater acreage while two will be onshore. The contracts are expected to generate $700 million of investment in Mozambique.

The companies won the tenders as part of a licensing round in 2014. The government added that it expects to sign similar agreements with South Africa’s Sasol and Italy’s...