CNOOC Limited and 80883 (RMB Counter), SSE: 600938) announces its wholly owned subsidiaries have entered into petroleum exploration and production concession contracts (EPCCs) with the Ministry of Mineral Resources and Energy of Mozambique (MIREME) and Empresa Nacional de Hidrocarbonetos (ENH) for 5 offshore blocks in Mozambique.
The contracts were signed for a total of 5 blocks, S6-A, S6-B, A6-D, A6-E and A6-G, all located offshore Mozambique. The total area is approximately 29,000 square kilometers, with water depths from 500 to 2,500 meters.
According to the terms of the contracts, the first stage of the exploration period of the blocks shall be 4 years. The 5 wholly owned subsidiaries of CNOOC Limited shall act as the operators in the exploration and development phases and independently owns the operating interests in the 5 blocks (S6-A 70%, S6-B 77.5%, A6-D 77.5%, A6-E 80%, A6-G 79.5%). ENH owns the remaining non-operating interests (S6-A 30%, S6-B 22.5%, A6-D 22.5%, A6-E 20%, A6-G 20.5%).