Moscow, August 23 - Neftegaz.RU. Rosneft and the National Petroleum Institute (Instituto Nacional de Petróleo, INP) have signed a Cooperation Agreement. The document was signed by CEO of Rosneft Igor Sechin and Chairman of INP Carlos Zacarias.
In addition, Rosneft has signed a Memorandum on Expansion of cooperation in Mozambique with the National Hydrocarbon Company (Empresa Nacional de Hidrocarbonetos, ENH). The document was signed by Sechin and CEO of ENH Omar Mitha.
The document exchange ceremony was held in the presence of President of the Russian Federation Vladimir Putin and President of Mozambique Filipe Jacinto Nyusi.
Upon the signing, Rosneft will be granted the right to study available geological data on a number of onshore and offshore blocks in Mozambique in order to examine their potential; and the opportunity to enter the projects on those blocks in the future.
Igor Sechin noted: “Mozambique is one of the perspective areas of the Rosneft’s international business. We are keen on further expanding the project portfolio in the country. I sincerely hope that the agreements signed today will contribute to that.”
In the recent decade, the gas output in Mozambique increased by 1.5 times and the consumption by 13 times. The country has become a major exporter of this hydrocarbon. According to IEA, the demand for it will grow faster than for any other fossil fuel and will increase by 30% by 2030.
In late 2015, RN-Exploration (a subsidiary of Rosneft) and a subsidiary of ExxonMobil were declared winners for 3 blocks in the 5th license round organized by INP. Rosneft and ExxonMobil were awarded 3 license areas: A5-B in the Angoche Basin, and Z5-C and Z5-D in the Zambezi Delta.
In October 2018, the consortium where Rosneft holds 20% signed concession agreements for the exploration and production of hydrocarbons on the 3 areas with the Government of Mozambique, and the companies started exploration works.
To read the article in Russian.
