Maputo — Mozambique's publicly owned National Hydrocarbon Company (ENH) has signed a memorandum of understanding with the Russian oil company Rosneft, for the joint development of exploration projects.
According to an ENH press release, the agreement was signed during the 21st World Petroleum Congress, held in Russia. The agreement also seeks to identify areas of mutual interest, and could eventually lead to joint hydrocarbon production.
The memorandum was signed by the chairperson of the ENH Board, Nelson Ocuane, and the ENH Director of Research and Production, Paulino Gregoria, and by the chairperson of Rosneft, Igor Sechin.
Cited in the press release, Ocuane said that association with a company such as Rosneft constitutes an added value for ENH and for the country.
“This company is a leader in the Russian petroleum industry, and we want to bring it to Mozambique, bearing in mind the potential that still exists for the exploration and production of hydrocarbons, and the technical capital which this country offers”, explained Ocuane.