Italian Eni Secures More Mozambique Acreage

Italian explorer Eni has farmed into three of US major ExxonMobil’s Mozambique’s offshore blocks, taking 10% of A5-B, Z5-C and Z5-D, in the deep waters of Angoche and Zambezi Basins. “With this acquisition, Eni further strengthens its presence in Mozambique, a country of strategic importance for the company,” it said May 29. The deal has the approval of the authorities and the blocks are almost completely unexplored.

Eni and ExxonMobil are partners in the Rovuma LNG development.

Block A5-B is about 1,300 km northeast of the capital Maputo and covers 6,080 km² at a water depth of between 1,800 and 2,500 metres. Blocks Z5-C and Z5-D cover a total area of 10,205 km², at a water depth between 500 and 2,100 metres, opposite the delta of the Zambezi River, about 800 km northeast of Maputo.

ExxonMobil is the operator and will have 40% after the transfer, in partnership with the Mozambican state company Empresa Nacional de Hidrocarbonetos and Russian Rosneft, who each have 20%; and Qatar Petroleum has 10%.

In the fifth licensing round, Eni won operatorship of Block A5-A, adjacent to block A5-B, with a 59.5% stake. Other partners are South African Sasol (25.5%) and ENH (15%). A farm-out agreement enabling Qatar Petroleum to acquire a 25.5% participating interest in Block A5-A, reducing Eni shares to 34%, still needs approval from the national authorities.

Between 2011 and 2014, Eni discovered supergiant natural gas resources in the Rovuma basin, in Coral, Mamba and Agulha fields, holding an estimated 2.4 trillion m³ of gas in place.