Qatar Petroleum Signs Exploration Deal Marking its First Entry into Mozambique

December 09, 2018

Qatar Petroleum entered into an agreement with an ExxonMobil affiliate to acquire a 10% stake in three offshore exploration blocks in the Angoche and Zambezi basins in Mozambique.

After obtaining approval of the relevant Mozambique authorities, the consortium will be made up of ExxonMobil (operator) with a 50% participating interest, Empresa Nacional de Hidrocarbonetos (ENH) with a 20% participating interest, Rosneft with a 20% participating interest and Qatar Petroleum with a 10% participating interest.

Commenting on this occasion, H.E. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, President and CEO of Qatar Petroleum expressed his delight to sign this agreement, with a long-time partner ExxonMobil to participate in exploring these frontier offshore basins in the Republic of Mozambique. H.E. stressed that this is a milestone for Qatar Petroleum as it marks its first foray into Mozambique’s promising offshore basins.

Eng. Al Kaabi said that exploration will begin soon, expressing his hope for success and looking forward to working with ExxonMobil, Mozambique’s Empresa Nacional de Hidrocarbonetos, and Rosneft. He also thanked the local authorities in Mozambique and Qatar Petroleum partners in these areas for their support.

This signature is very much in line with our growth strategy in Qatar Petroleum with a new country entry to prospective frontier basins with significant hydrocarbon resource potential,” Al Kaabi added.

The three offshore blocks are A5-B which lies in the Angoche basin, and Z5-C and Z5-D, which lie in the Zambezi basin. Both basins are frontier and underexplored.

The two Zambezi blocks have a total area of about 10,200 square km with water depths ranging from about 200 to 2,000 meters, while the Angoche basin block has an area of about 6,450 square km with water depths ranging from about 1,800 to 2,500 meters.