Majors show early interest in Mozambique’s 5th round

ExxonMobil, Total, and Statoil are among the companies that submitted bids to explore for new exploration blocks in Mozambique

The interest confirms that oil companies are still confident interesting discoveries can be made in the southern African country’s waters. But the terms of the round faced criticisms ranging from opacity to cronyism and the turnout was less than expected – even allowing for the low oil price. A total of 15 blocks were included in the round which was closed 30 July by the Institute of National Petroleum (INP). Sixteen companies ranging in size from supermajors to minnows applied for blocks as operators and non-operators. Among the bidders were Italy’s Eni, South Africa’s Sasol, Russia’s Rosneft, Indian Oil Corporation, Shoreline Canoverseas, Delonex Energy, Angola’s state-owned Sonangol, Namo