Rosneft to Begin Offshore Exploration in Mozambique

Rosneft to Begin Offshore Exploration in Mozambique

Russia’s national oil company Rosneft, in a consortium with the American firm ExxonMobil, intends to commence exploration work in the offshore zone of Mozambique in the second half of 2017, Macauhub informed.

“In October 2015, the consortium between Rosneft and its partner ExxonMobil obtained licenses for the geological prospecting of three blocks in the Mozambican sea, with the start of the exploration work scheduled for the second half of 2017, after signing the concession contracts with the Mozambican government,” Rosneft’s annual report states, according to Tass News Agency.

Around two years ago, the Institute of National Petroleum of Mozambique has awarded four blocks offshore Mozambique to oil majors ExxonMobil, Rosneft, and Eni in a fifth competitive bidding round for exploration and production concession contracts, from which three blocks were awarded for the ExxonMobil and Rosneft consortium (ExxonMobil holds 60% stake while Rosneft holds 20% stake). The three blocks are located in the Angoche basin and the Zambezi basin in central Mozambique.


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