Rosneft to expand its project portfolio in Mozambique

Russia’s Rosneft oil company and Mozambique’s Instituto Nacional de Petróleo and Empresa Nacional de Hidrocarbonetos signed documents on expanding their cooperation in Mozambique. The documents exchange ceremony was held in Moscow in the presence of the Presidents of Russia and Mozambique, Rosneft’s website reports.

Rosneft will now be granted the right to study available geological data on a number of onshore and offshore blocks in Mozambique in order to assess their potential; and the opportunity to join the projects on those blocks in the future.

According to Igor Sechin, company CEO, “Mozambique is one of the promising areas of Rosneft’s international business. We are keen to further expand the project portfolio in the country. I sincerely hope that the agreements signed today will contribute to that.”

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