August 17, 2018

Rosneft, ExxonMobil join in Mozambique |

Rosneft and ExxonMobil have joined forces to bid for blocks in Mozambique’s latest licensing round.

The Russian state giant and US supermajor have filed joint bids to participate in Mozambique’s fifth licensing round, Rosneft said on Thursday. Reuters reported later on Thursday that France’s Total, Eni of Italy and South Africa’s Sasol also entered bids, as did Petrolinvest, Canoverseas, Troisade, Namoza and Delinex.

The number of bids entered by Rosneft and ExxonMobil was not mentioned, but the two are looking to team up on acreage in the Angoche basin and Zambezi delta.

“The global partnership of the companies is of a strategic nature,” Rosneft said. If the pair are successful in their bids, ExxonMobil would become operator of the acreage.

“The participation in exploration and development projects in Mozambique is a new focus area of Rosneft’s international strategy,” Rosneft continued. “The partnerships with global industry leaders, such as ExxonMobil, allows the company to minimise the risks in the implementation of frontier exploration projects.”

Mozambique formally launched its fifth licensing round in October with parallel events in Maputo and London. Fifteen blocks are on offer in a variety of proven and unproven basins, both onshore and offshore, ranging from shallow water to ultra-deepwater.

Eleven blocks are offshore: three in the ultra-deepwater Rovuma basin, two in the Angoche basin — possibly an oil play, said Zacarias — and six in the Zambezi delta. Three onshore blocks are on offer around the producing Pande and Temane gas fields, while another is available in the Palmeira area north of Maputo. The country extended an initial deadline of 30 April for the receipt of bids to 30 July, to allow time for the completion of required legal documentation.

Rosneft was reported to be looking into gaining a foothold in Mozambique as long ago as April last year, when chairman Igor Sechin met Mozambique’s Minister for Foreign Affairs Oldemiro Julio Marques Baloi in Moscow.



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