Maputo, 29 August 2024 – This is the Oil Research and Production Grant Agreement of Area A6-C, located at sea, in the region of Angoche, Mozambique Basin, at depths of water ranging from 1500 to 2,500 meters, a total extension of 5,600 km2. The award of this concession area resulted from the 6th Public Competition for the Grant of Areas for Research and Production of Hydrocarbons, launching in November 2021.
This concession contract was concluded by the Government of Mozambique, in this act represented by the Minister of Mineral Resources and Energy, the Italian company ENI MOZAMBICO, Concessionary and Operator of the referred concession area, and the National Hydrocarbon Company, ENH (E.P), which represents the commercial interest of the Government in all oil operations in Mozambique.
Moreover, it includes a minimum research work program, which includes the acquisition of 1500 km2 of seismic, geological and geophysical studies only in the first sub-period of the research period. This concession contract shall enter into force after the visa of the Administrative Court.
It is foreseen, a global minimum investment in the order of USD 168,650,000 (Centre and Sixty-eight million six hundred and fifty thousand dollars from the United States of America). The concession contract also provides for institutional training, the development and implementation of social projects in the communities where oil operations will be carried out, the hiring of national workforce and opportunities for the supply of various goods and services.
On that occasion, the Minister of Mineral Resources and Energy called on ENI to work closely with the INP and ENH to achieve a common benefit for all parties involved and to develop the country, and also recommended the Italian company to comply with the work programme set out in the concession contract, observing the existing legislation for the oil sector and good practice with regard to environmental legislation.
Maputo, 30 August 2024
