Chinese CNOOC Will Search for Oil and Gas in Mozambique
The Chinese state oil company, specializing in offshore drilling and production, signed concessions with the Mozambique authorities for 5 offshore blocks at once.
The Chinese offshore CNOOC signed concession agreements with the authorities of Mozambique for the exploration and production of oil in five offshore blocks with an area of 29 thousand square km, writes Reuters.
Exploration on these blocks is planned for 4 years, it will be carried out by subsidiaries of CNOOC as operators, having shares in the blocks. Mozambique’s national energy company ENH received the remaining shares.
The agency recalls that CNOOC Singapore Trading and Marketing has a contract with the Mozambique LNG1 Company for the supply of LNG from the onshore project of the same name in the country.
