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Eni farms out to Qatar Petroleum 25.5% participating interest in Block A5-A offshore Mozambique

Gasoil News - Published on Fri, 15 Mar 2019

Image Source: WebWire
Eni and Qatar Petroleum signed a farm out agreement to enable Qatar Petroleum to acquire a 25.5% participating interest in Block A5-A, offshore Mozambique. The agreement is subject to the authorization by the Mozambican authorities. Block A5-A, located in the deep waters of the Northern Zambezi Basin, approximately 1,500 km north-east of the capital Maputo, was awarded to Eni following the 5th competitive Licensing Round launched by the Republic of Mozambique while the Exploration and Production Concession Contract was signed in October 2018. It extends over an area of 5,133 km2 in a water depth between 300 and 1,800 meters, in a completely unexplored zone in front of the town of Angoche.

Eni CEO Mr Claudio Descalzi said that “Today’s transaction represent another milestone in the strategic path that Eni and QP undertook to further strengthen their partnership worldwide.”

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Posted By : Rabi Wangkhem on Fri, 15 Mar 2019
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