Continental Focus, International Reach

ENI Signs for Moz Block A5-A

Thursday, October 18, 2018

ENI signed a contract with the Mozambican government to obtain exploration and production rights for the offshore Block A5-A, located in the Angoche Basin. This signature comes three years after the allocation of the block as part of the country’s fifth offshore licensing round.

Under the terms of the agreement, ENI will operate the scope with a 59.5% stake. Its partners are Sasol with 25.5% and the Mozambican public company hydrocarbons, ENH with 15%.

The block located 1,500 km offshore, northeast of the capital Maputo, covers an area of ​​5,133 sq km in water depths of between 300 and 1,800 meters.

The bickering over the award conditions for the past three years led Equinor (formerly Statoil) to sell a 25.5% stake in A5-A earlier this year, before its official signature. ENI took over this share, bringing its stake from 34% to 59.5% currently.