Negotiation of contracts for oil and natural gas exploration areas in Mozambique resulting from the fifth international tender launched in 2014, could be finalized by the end of June 2016, according to government forecasts, Macauhub reported.

According to the government of Mozambique, model contracts for hydrocarbon areas were approved, but foreign oil companies are still not sufficiently familiar with the document, which is why they have been asking for further clarification on specific aspects, Club of Mozambique informed.

A spokesperson stated that details about exchange rates have been the main requests for information sent to the government by the majority of companies awarded concession. Since the hydrocarbon sector involves very complex matters, the contracts should be viewed in full detail so that in the future neither party is negatively affected.

“Only after completion of the negotiation will the government sign exploration contracts with the companies,” he added.

The fifth tender for research areas was launched simultaneously in Maputo and London in 2014 and ended at the end of the following year, covering three maritime areas in the Rovuma basin, two in Angoche and six in the Zambezi delta and onshore areas, namely three in Pande/Temane and one in Palmeira region, totalling close to 77,000km².