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Mozambique signs oil concession contracts with CNOOC
Release time:2024-05-29
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On May 23, the Ministry of Mineral Resources and Energy (MIREME) and the National Hydrocarbon Company signed oil exploration and production concession contracts with the China National Offshore Oil Corporation (CNOOC) for five offshore blocks.

According to the CNOOC statement, the total area of the blocks is approximately 29 thousand square kilometers, with water depths of 500 to 2,500 meters. The first stage of exploration will last four years. 

In the observation of the Mozambican Minister of Mineral Resources and Energy, Carlos Zacarias, with the signing of these contracts, "We embarked on a journey with a lasting impact on relations between Mozambique and China in the global energy panorama."

After the successive inspection of the contracts, the entity is thus authorized to carry out petroleum operations in these areas, which may lead to the discovery of petroleum resources and carry out the research and work program that includes seismic acquisition and drilling of deep water wells, which may lead to the discovery of more oil resources.

(Source: Xinhua Portuguese, on May 24)