Italian oil and gas company Eni announced that its subsidiary Eni Mozambico, has acquired rights to explore and develop offshore blocks A5-B, Z5-C and Z5-D, located in the deep waters of Angoche and Zambezi Basins.
Eni has signed a farm-in agreement with ExxonMobil Moçambique Exploration & Production Limitada and authorized by Mozambican institutions to acquire a 10% stake in the three blocks.
Block A5-B covers an area of 6,080km2, at water depth between 1,800m and 2,500m and is located approximately 1,300kms northeast of the capital Maputo, in a completely unexplored area off the city of Angoche.
Blocks Z5-C and Z5-D covers a total area of 10,205km2, at a water depth between 500m and 2,100m and is located in a scarcely explored area facing the delta of the Zambezi River, approximately 800km to the north-east of the capital Maputo.
The company said that the three blocks are assigned under the 5th licensing round, and are operated by ExxonMobil (40%), in partnership with the Mozambican State company Empresa Nacional de Hidrocarbonetos (ENH, 20%), Rosneft (20%) and Qatar Petroleum (10%).
Eni said that the acquisition is expected to further strengthen its presence in Mozambique, a country of strategic importance for the company.