Mozambique's government and National Hydrocarbon Company has signed a petroleum exploration and production concession contract with the China National Offshore Oil Corporation (CNOOC) for five offshore blocks.
Speaking at the signing ceremony on Thursday, Mozambican Minister of Mineral Resources and Energy Carlos Zacarias, said the deal marks the conclusion of a process that began in November 2021 with the launch of the sixth public tender for the concession of exploration and production areas.
"By signing these contracts, we embark on a journey that will have a lasting impact on economic relations between Mozambique and China in a global energy landscape," Zacarias said.
Chinese news agency Xinhua reported that according to CNOOC's website the company’s “wholly owned subsidiaries have entered into petroleum exploration and production concession contracts with the Ministry of Mineral Resources and Energy of Mozambique and Empresa Nacional de Hidrocarbonetos for five offshore blocks in Mozambique."
Zacarias called on both parties to work together to ensure their cooperation produces prosperity, sustainability and a better future for citizens.
He said the signing of the contracts marked a milestone in the government's strategy to attract more investment and to increase awareness of the geological potential of Mozambiques' sedimentary basins.
"After the successive inspection of the contracts, CNOOC will be able to carry out the necessary oil operations and carry out the research and work program that includes seismic acquisition and drilling of boreholes and deep waters, which could lead to discoveries of more oil resources," Zacarias said.
He said specialised manpower will be used during the first exploration phase, while national technicians will be trained, and institutional capacity of local entities linked to the oil sector will be improved.
CNOOC said in a statement that the total area of the blocks is about 29 000 square kilometres, with water depths of 500 to 2 500 metres. The first stage of the exploration will take four years.
