Moza approves oil prospecting contracts

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The Mozambican government has approved concession contracts for oil research and production in five offshore areas and one onshore area in four provinces of the country, the Council of Minister’s spokeswoman Ana Comoana said on Tuesday in Maputo.

The areas are A5-A, A5B and Z5-D, located off the coast of Angoche, Nampula province, Z5, located in the Zambezi delta, which covers the provinces of Sofala and Zambéza and areas PT5-C (at sea) and Mazenga (inland), located in the province of Inhambane.

The state-owned Empresa Nacional de Hidrocarbonetos (ENH) participates in all concession areas in partnership with foreign companies, with the exception of the Mazenga area, where, according to the statement from the Council of Ministers, it is acting alone.

The contracts are for eight years and may be extended by another 30 if discoveries with commercial value are made.

Government estimates expect US$825 million in investments to be made over the eight years of the initial research and prospecting phase, corresponding to a minimum annual investment of US$100 million.

A spokeswoman for the Council of Ministers, quoted by daily newspaper O País, said that under these contracts concessionary companies should focus their activities, wherever possible, on Mozambican companies and products.

“One of the aspects foreseen in these contracts is the obligation to involve national companies in the provision of services and the preference for national products when compared in terms of price and quality,” said Ana Comoana.

The companies will also have to launch public tenders for the acquisition of goods and services whenever the amount in question is more than US$80 million, said the spokeswoman of the Council of Ministers. - Macauhub

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