Rosneft, INP and ENH Expand Cooperation in Mozambique

Photo credit: Press-service of the President of Russia

Rosneft Oil Company and the National Petroleum Institute (Instituto Nacional de Petróleo, INP) have signed a Cooperation Agreement. The document was signed by Chief Executive Officer of Rosneft Oil Company Igor Sechin and Chairman of INP Carlos Zacarias. In addition, Rosneft has signed a Memorandum on Expansion of cooperation in Mozambique with the National Hydrocarbon Company (Empresa Nacional de Hidrocarbonetos, ENH). The document was signed by Igor Sechin and Chief Executive Officer of ENH Omar Mitha.

The document exchange ceremony was held in the presence of President of the Russian Federation Vladimir Putin and President of Mozambique Filipe Jacinto Nyusi.

Upon the signing, Rosneft will be granted the right to study available geological data on a number of onshore and offshore blocks in Mozambique in order to examine their potential; and the opportunity to enter the projects on those blocks in the future.

Chief Executive Officer of Rosneft Igor Sechin noted: “Mozambique is one of the perspective areas of the Rosneft’s international business. We are keen on further expanding the project portfolio in the country. I sincerely hope that the agreements signed today will contribute to that.”

Note for Editors:

n the recent decade, the gas output in Mozambique increased by 1.5 times and the consumption by 13 times. The country has become a major exporter of this hydrocarbon. According to IEA, the demand for it will grow faster than for any other fossil fuel and will increase by 30% by 2030.

In late 2015, RN-Exploration (a subsidiary of Rosneft Oil Company) and a subsidiary of ExxonMobil were declared winners for three blocks in the fifth license round organized by INP. Rosneft and ExxonMobil were awarded three license areas: A5-B in the Angoche Basin, and Z5-C and Z5-D in the Zambezi Delta. In October 2018, the consortium where Rosneft holds 20% signed concession agreements for the exploration and production of hydrocarbons on the three areas with the Government of Mozambique, and the companies started exploration works.

Rosneft
Information Division
August 22, 2019

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