Eni and Qatar Petroleum signed a farmout agreement to enable Qatar Petroleum to acquire a 25.5 percent participating interest in Block A5-A, offshore Mozambique, the Italian energy giant announced Monday.
According to Eni's statement, Eni is the operator of Block A5-A consortium, with a participating share of 59.5 percent, owned though its subsidiary Eni Mozambico, which would fall to 34 percent after the farmout is approved by Mozambican authorities. Other partners are Sasol, with 25.5 percent, and the Mozambican state company Empresa Nacional de Hidrocarbonetos (ENH), with 15 percent.
The block is located in the deep waters of the Northern Zambezi Basin, approximately 1,500 kilometers northeast of capital Maputo, and extends over an area of 5,133 square kilometers in a water depth of 300 to 1,800 meters, in a completely unexplored zone in front of the town of Angoche.
It was awarded to Eni following the fifth competitive licensing round launched by Mozambique while the exploration and production concession contract was signed in October 2018.
According to the press release, Eni has been present in Mozambique since 2006, following the acquisition of the Petroleum Contract Area 4, in the offshore Rovuma basin, in the north of the country, where total gas in place is estimated in excess of 85 trillion cubic feet (2.4 trillion cubic meters), following a successful exploration campaign, with the discoveries of Coral, Mamba and Agulha.
By Hale Turkes