Mozambique: China's CNOOC acquires five offshore blocks

The Chinese state-owned company China National Offshore Oil Corporation (CNOOC) has acquired, through its wholly-owned subsidiaries, five offshore oil and gas blocks in Mozambique.

CNOOC subsidiaries have signed petroleum exploration and production concession contracts (EPCC) with Mozambique's Ministry of Mineral Resources and Energy (MIREME) and Empresa Nacional de Hidrocarbonetos (ENH).

Contracts have been signed for a total of five blocks, including S6-A, S6-B, A6-D, A6-E and A6-G, all located offshore Mozambique.

The total surface area is around 29,000 square kilometers, with water depths ranging from 500 to 2,500 meters.

Under the terms of the contracts, the first stage of the exploration period for the blocks will be four years.

CNOOC's five wholly-owned subsidiaries will act as operators in the exploration and development phases, and will independently hold the operating interests in the five blocks (S6-A 70%, S6-B 77.5%, A6-D 77.5%, A6-E). 80%, A6-G 79.5%).

ENH holds the remaining non-operating interests (S6-A 30%, S6-B 22.5%, A6-D 22.5%, A6-E 20%, A6-G 20.5%).