Eni-led JV wins exploration rights off Mozambique

Italy’s Eni and partners have been awarded A5-A block offshore Mozambique in the fifth competitive bidding round.

The block named Angoche, which covers a total area of 5,145 square kilometers in a water depth between 200 and 1800 meters, is placed within an unexplored area of the Northern Zambesi Basin, about 1,500 kilometers northeast of the capital city Maputo, Eni said in a statement.

The consortium estimates that the area contains significant hydrocarbon resources.

Eni, through its subsidiary Eni Mozambico, is the operator of the Joint Venture, with a 34 percent stake.

The other partners are Statoil and Sasol with 25,5 percent stake each and ENH with a 15 percent stake.

Eni is also the operator of Area 4 with a 50 percent stake through Eni East Africa, where estimated 2.407 billion cubic meters of gas are in place.

Eni’s Area 4 partners are GalpEnergia, Kogas and ENH with 10 percent stake each while CNPC owns a 20 percent indirect interest through Eni East Africa.

LNG World News Staff; Image: Statoil