Mozambique: CNOOC Acquires Five Offshore Oil and Gas Blocks

Mozambique has finalized agreements with Chinese oil company the China National Offshore Oil Corporation (CNOOC) for the exploration and production of five offshore blocks. These blocks, located in both shallow and deep waters, were awarded as part of the country’s sixth licensing round initiated by the Mineral Resources and Energy ministry.

The two shallow-water blocks are situated in the Save offshore area (S6-A and S6-B), while the three deep-water blocks are in the Angoche offshore area (A6-D, A6-E and A6-G). CNOOC will have a significant stake ranging from 70-80% in each block, partnering with Mozambique’s state-owned Empresa Nacional de Hidrocarbonetos.

Launched in November 2021, the licensing round encompassed a total of 16 blocks across four regions, covering more than 92,000 km2. CNOOC secured all the blocks it proposed for in November 2022, obtaining exclusive rights to explore and exploit both shallow and deep-water resources.

These new blocks represent potential for exploration activities, including seismic data acquisition covering over 26,000 km2, drilling of at least four deep-water research wells and comprehensive geoscientific studies.