Eni and Statoil to Explore Offshore Mozambique

An Eni-led partnership with Statoil has submitted a winning bid on the A5-A block offshore Mozambique in the fifth competitive bidding round.

The A5-A block is located in the Northern Zambesi basin in the Angoche area about 1,500km north of the capital Maputo. The block covers an area of 5,145 square kilometers in water depths ranging from 200 to 1,800 meters.

Mozambique has become one of the most promising countries in Africa in terms of natural gas resources. There have been prolific natural gas discoveries in Mozambique's northern offshore Rovuma basin since 2010, according to the International Energy Agency.

Eni is the operator of the Joint Venture with 34 percent participating interest. Partners are Statoil and Sasol with 25.5 percent each and  ENH with 15 percent.

The minimum work program includes seismic and three commitment wells.

“The Angoche area is a very promising frontier basin with significant oil potential and builds on Statoil's exploration strategy of access at scale,” says Nick Maden, senior vice president for Statoil's exploration activities in the Western Hemisphere.

“The position strengthens and develops our global exploration portfolio. We are enthusiastic about this opportunity and look forward to working with Eni, Sasol and ENH to explore for hydrocarbons offshore Mozambique.” says Maden.