https://en.sputniknews.africa/20240525/chinas-state-oil-company-mozambique-ink-agreement-on-oil-exploration-and-production-offshore-1066733862.html
China's State Oil Company, Mozambique Ink Agreement on Oil Exploration and Production Offshore
China's State Oil Company, Mozambique Ink Agreement on Oil Exploration and Production Offshore
Sputnik Africa
The contract covers five offshore blocks in Mozambique's waters, totaling approximately 29,000 square kilometers (11,200 square miles). 25.05.2024, Sputnik Africa
2024-05-25T16:46+0200
2024-05-25T16:46+0200
2024-05-25T16:46+0200
sub-saharan africa
mozambique
china
singapore
liquefied natural gas (lng)
southern africa
funding
oil
oil pipeline
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State-run China National Offshore Oil Co. (CNOOC) signed oil exploration and production contracts with Mozambique, the company said on Friday.The blocks that will be under operation feature water depths ranging from approximately 500 to 2,500 meters (1,640 to 8,202 feet), according to CNOOC's press release.The exploration period's first phase lasts four years, with five CNOOC subsidiaries acting as operators. Additionally, in 2019, CNOOC's Singapore Trading and Marketing unit signed a 13-year liquefied natural gas (LNG) sale and purchase agreement with Mozambique LNG1 Company for gas from the Mozambique Area 1 onshore plant.Previously, CNOOC obtained licenses for oil and gas exploration at five sites on Mozambique's continental shelf. The company operates in several other African countries, including Algeria, Nigeria, and Gabon. CNOOC was also reportedly negotiating with Angolan authorities on a major oil and natural gas exploration project.
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mozambique, china, singapore, liquefied natural gas (lng), southern africa, funding, oil, oil pipeline
mozambique, china, singapore, liquefied natural gas (lng), southern africa, funding, oil, oil pipeline
China's State Oil Company, Mozambique Ink Agreement on Oil Exploration and Production Offshore
The contract covers five offshore blocks in Mozambique's waters, totaling approximately 29,000 square kilometers (11,200 square miles).
State-run China National Offshore Oil Co. (CNOOC) signed oil exploration and production contracts with Mozambique, the company
said on Friday.The blocks that will be under operation feature water depths ranging from approximately 500 to 2,500 meters (1,640 to 8,202 feet), according to CNOOC's press release.
The exploration period's first phase lasts four years, with five CNOOC subsidiaries acting as operators. Additionally, in 2019, CNOOC's Singapore Trading and Marketing unit signed a 13-year liquefied natural gas (LNG) sale and purchase
agreement with Mozambique LNG1 Company for gas from the Mozambique Area 1 onshore plant.
Previously, CNOOC obtained licenses for oil and gas exploration at five sites on Mozambique's continental shelf. The company
operates in several other African countries, including Algeria, Nigeria, and Gabon. CNOOC
was also reportedly negotiating with Angolan authorities on a major oil and natural gas exploration project.
