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Wednesday, January 31, 2018
Statoil terminated two-year long negotiations aimed at taking a 25.5% stake in the A5-A block offshore Mozambique. According to the company, after no progress in two years it was time to disengage from the talks.
The company, along with ENI, Sasol, and Mozambique’s national oil company ENH were awarded exploration rights in 2015. The A5-A block is located in the Northern Zambesi Basin.
“Statoil has decided to disengage from negotiations on block A5-A in Mozambique… We are not part of this anymore, it is up to the other partners to make any moves regarding the stake,” Statoil spokesman Erik Haaland was cited by Reuters as saying
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