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Sunday, June 24, 2018
Instituto Nacional de Petroleo (INP), Mozambique’s oil and gas regulator, revealed that the exploration contracts for the country’s fifth licensing round are close to being finalized. Winners of acreage in the round, which include ExxonMobil and ENI, have been waiting almost three years to finalize their respective wins.
The delay in finalizing the contracts with winners is due to problems with legislation and the new model for exploration and production concession contracts, which should be resolved by July, Agostinho Rodrigues Chibielo, an official at INP’s exploration division said in a Bloomberg report.
Once the contracts have been signed, ExxonMobil plans to drill two wells and ENI at least one next year, Chibielo said.
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