Russia’s Rosneft expects to make concession agreements on Mozambique offshore areas

Rosneft and ExxonMobil

Rosneft expects to make concession agreements for development of three offshore areas in Mozambique in mid-2017, a Rosneft representative told TASS on Thursday.

RN-Exploration [subsidiary of Rosneft] and ExxonMobil’s affiliate in Mozambique were recognized winners of the tender for three areas organized by Mozambique’s Instituto Nacional de Petroleo (INP). Work was planned to start in the third – fourth quarter of 2016 but no agreement with the government of Mozambique has been signed so far.

“The delay in contract negotiations with INP and the national government occurred due to reasons beyond the control of partners. The invitation to initiate talks was received in the fourth quarter of 2016. Negotiations are underway now and we expect they will be end in mid-2017,” the source said.

“Rosneft does not hold talks with Eni on engagement in Italian company’s projects in Mozambique,” the source said.
According to Financial Times, Eni may sell a stake in an oil and gas field in Mozambique shortly.

Source: TASS Russian News Agency

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