China’s oil and gas giant CNOOC Limited has expanded its operations with new petroleum exploration and production concession contracts (EPCCs) in Mozambique. The company gained access to five offshore blocks, covering approximately 29,000 square kilometers, with water depths ranging from 500 to 2,500 meters.
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CNOOC’s five wholly-owned subsidiaries secured these blocks after signing contracts with Mozambique’s Ministry of Mineral Resources and Energy and National Hydrocarbon Company (ENH).
CNOOC said the first stage of the exploration period will last four years.
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The company’s subsidiaries will act as operators during the exploration and development phases, owning significant operating interests in several blocks: S6-A (70%), S6-B (77.5%), A6-D (77.5%), A6-E (80%), and A6-G (79.5%).
ENH holds the remaining non-operating interests.
CNOOC is one of China’s largest national oil companies. It has a 25% non-operated stake in the prolific ExxonMobil-operated Stabroek Block offshore Guyana.
