Exxon, Rosneft Awarded Three Offshore Mozambique Blocks

RN-Exploration, 100 percent Rosneft subsidiary, and ExxonMobil Exploration and Production Mozambique Offshore were awarded three offshore blocks in Mozambique’s fifth licencing round.

Mozambique’s Institute of National Petroleum (INP) evaluated 23 proposals and decided to award Rosneft and ExxonMobil the following three contract areas: A5-B in the Angoche Basin and Z5-C and Z5-D in the Zambezi Delta.

Upon receiving the award the companies will commence negotiations with the government and INP on the detailed terms of participation, Rosneft said. Once completed ExxonMobil will become the operator.

ExxonMobil will have 60 percent interest in all the three blocks while Rosneft will have a 20 percent stake and Mozambique’s National Hydrocarbons Company (ENH) will own the remaining 20 percent stake.

The participation in exploration and development projects in Mozambique is a new focus area of Rosneft’s international strategy.