Eni wins new Mozambique exploration rights

(AGI) Rome, Oct 30 - Eni, Statoil, Sasol and ENH have wonexploration and development rights for the A-5A offshore blockoff Mozambique in a fifth bidding round. The block is in thedeep waters of the Zambezi river basin, in the Angoche area,about 1,500 kilometres north of the capital Maputo. It coves5,145 square kilometres at a depth of between 200 and 1,800metres, and is in an unexplored area the consortium believesmay contain large reserves of hydrocarbon, Eni said. The groupwill run the consortium through its subsidiary Eni Mozambique,with a 34 per cent stake. Statoil and Sasol will have 25.5percent each and Mozambique's state-run company EmpresaNacional de Hidrocarbonetos (ENH) will take 15 per cent. Enihas worked in Mozambique since 2006 and operates in Area 4 withan indirect 50 per cent shareholding, through its Eni EastAfrica subsidiary. An intensive exploration and appraisalcampaign between 2011 and 2014 found an estimated 2,407 billioncubic metres of natural gas in Area 4. Other partners are GalpEnergia, KOGAS and ENH, each with 10 per cent. CNPC holds a 20per cent indirect shareholding through Eni East Africa. (AGI). .