The China National Offshore Oil Corporation (CNOOC) recently signed petroleum exploration and production concession contracts with the Ministry of Mineral Resources and Energy of Mozambique and Empresa Nacional de Hidrocarbonetos (ENH) for five offshore blocks.
The total area of the blocks spans approximately 29,000 square kilometers. Five CNOOC subsidiaries will serve as operators in the exploration and development phases, with equity interests of 70 percent to 80 percent. ENH owns the remaining interests.
At the signing ceremony, Mozambican Minister of Mineral Resources and Energy Carlos Zacarias stated that the petroleum cooperation would support the country in developing its talent and capacity building in the oil industry, thereby promoting national economic growth.
By signing these contracts, Mozambique will embark on a journey that will have a lasting impact on economic relations between Mozambique and China in a global energy landscape.
He mentioned that the CNOOC would potentially discover new oil resources after commencing seismic data collection and deepwater drilling operations, and expressed anticipation for all parties to work together towards achieving prosperity and sustainable development through cooperation.
(Executive editor: Zhu Zeya)
