Unrest along Mozambique’s northern coast has halted onshore development
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
Also in this section
17 January 2025
Supply glut or supply deficit are both plausible outlooks, with tariffs and sanctions among the key risks that could swing the pendulum
17 January 2025
European Commission is on its way to meeting clean energy goals, but energy security concerns and higher costs may give it second thoughts
17 January 2025
The CEO of QatarEnergy has highlighted the potential impact a new EU directive could have on energy exports to the continent
16 January 2025
The government’s resource nationalism is aggravating the NOC’s debt position and could yet worsen if also tasked with the decarbonisation shift
