Eni-led JV bags Mozambique block

MAPUTO, November 2, 2015 – Italian major Eni announced Friday that it had, together with its joint venture partners, been awarded an offshore exploration block in Mozambique’s fifth bidding round.

The 5,145-square-kilometre block A5-A, located in the Northern Zambesi Basin in the Angoche area, sits at a water depth of 200-1,800 metres.

Eni’s local subsidiary Eni Mozambico will operate the block with a 34-percent interest. Other shareholders include Norway’s Statoil (25.5 percent), South African energy and chemical firm Sasol (25.5 percent), and Mozambique’s National Hydrocarbons Company (15 percent).

“The Angoche area is a very promising frontier basin with significant oil potential and builds on Statoil’s exploration strategy of access at scale,” Nick Maden, senior vice-president for Statoil’s exploration activities in the Western Hemisphere, said in a company statement.

Oil and gas giants such as ExxonMobil and Russia’s Rosneft also won bids in the 15-block round.

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