Morocco: CNOOC wins five oil exploration contracts

China National Offshore Oil Corporation (CNOOC) has been awarded five concession contracts for the exploration and development of oil and gas fields by the Moroccan government. The contracts were awarded under the sixth call for tenders launched by the Ministry of Mineral Resources and Energy. Government spokesman Filimão Suaze emphasized that the decision was in line with Mozambique's mineral resources policy and aimed at attracting further investment in the oil sector.

The concession contracts, approved by the Council of Ministers, will enable CNOOC to explore two shallow-water blocks in the Save offshore region (S6-A and S6-B) and three offshore blocks in the Angoche region (A6-D, A6-E, and A6-G). CNOOC will hold stakes ranging from 70% to 80% in these blocks, while Mozambique's state-owned Empresa Nacional de Hidrocarbonetos will retain the remaining share. The licensing round was launched in November 2021 for a total of 16 blocks, but only six blocks received bids, with CNOOC obtaining the two blocks in the Save area in November 2022.

The Angoche and Save regions, where CNOOC will carry out exploration activities, lie outside the Cabo Delgado region, which has experienced significant delays in oil and gas activities due to security concerns linked to Islamist terrorism. CNOOC's research activities will include the acquisition of more than 26,000 km² of seismic data, the drilling of at least four deepwater research wells, and geoscientific studies in the offshore Save and Angoche regions. Currently, Mozambique relies on crude oil imports to meet its domestic demand, as it does not produce its own crude oil.