Chinese energy company CNOOC signs exploration contracts for 5 offshore oil and gas blocks in Mozambique, securing a 70-79.5% stake.
Chinese energy company CNOOC has signed exploration contracts for 5 offshore oil and gas blocks in Mozambique, expanding its international presence and diversifying resources. The initial exploration period is set at 4 years. CNOOC's subsidiaries will operate the blocks, with a 70-79.5% stake, while Mozambique's Empresa Nacional de Hidrocarbonetos will hold the remaining 20-30% interest.
May 24, 2024
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