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Mozambique Says Exxon, Eni Exploration Contracts About Ready

Ekow Dontoh, Paul Burkhardt, Matthew Hill
Mozambique Says Exxon, Eni Exploration Contracts About Ready

Mozambique’s oil and gas regulator said exploration contracts for the nation’s fifth licensing round in 2015, which awarded blocks to companies including Exxon Mobil Corp. and Eni SpA, are close to being finalized. Winners of the bidding round have awaited legislation and a new model for exploration and production concession contracts, which should be resolved by July, Agostinho Rodrigues Chibielo, an official at Instituto Nacional de Petroleo’s exploration division, said in an interview on the sidelines of a conference in Ghana’s capital, Accra. Once the contracts have been signed, Exxon plans to drill two wells and Eni at least one next year, he said.