Eni signed a contract for the exclusive exploration and development rights of the offshore oil block A5-A in the deep waters of Mozambique's Northern Zambezi Basin, the Italian energy group announced Wednesday.
Eni is the operator of the Block A5-A consortium, with a participating 59.5 percent share owned by its subsidiary Eni Mozambico, according to a statement from the company. Other partners are Sasol, with a 25.5 percent share, and the Mozambican state company Empresa Nacional de Hidrocarbonetos (ENH) with a 15 percent interest.
The block extends over an area of 5,133 square kilometers, at water depths between 300 and 1,800 meters, in a completely unexplored zone in front of the town of Angoche, the statement said.
'With this acquisition, Eni further strengthens its presence in Mozambique, a country that has a strategic relevance for the company,' it added.
According to the statement, Eni has been present in Mozambique since 2006, following the acquisition of a participation in the Petroleum Contract of Area 4, in the offshore Rovuma basin, in the north of the country.
'Following an intense exploration campaign that spanned just 3 years, between 2011 and 2014 the supergiant gas fields of Coral, Mamba and Agulha were discovered, boasting an estimated 2,407 billion cubic meters of gas in place,' it said.
Mozambique Rovuma Ventures (Eni, 25 percent, ExxonMobil, 25 percent and CNPC, 20 percent), and by ENH (10 percent), Kogas (10 percent) and Galp (10 percent) compose the Area 4 consortium.
By Hale Turkes
Anadolu Agency
energy@aa.com.tr