Mozambique upstream progress defies unrest

The east African country continues to attract investment in oil and gas projects, but concerns over security are still impeding developments in the gas-rich north

China's state-controlled Cnooc is seeking to invest in Mozambique for the first time, while Italy’s Eni is looking to expand its portfolio in the troubled east African nation, after both firms submitted bids in Mozambique’s sixth licensing round. Cnooc bid for five blocks: three in the Angoche basin and two in the Save basin, according to Mozambican regulator INP. The Chinese firm is proposing operating the blocks with 70–80pc ownership, with Mozambican NOC ENH holding the remainder. If the bids are successful, they would be Cnooc’s first foray into the country. Eni, meanwhile, bid to operate one block in the Angoche basin with a 60pc stake, with ENH holding the remaining 40pc. INP plans to

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