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Rosneft and Mozambique’s ENH sign Memorandum of Understanding

16 June 2014

Igor Sechin, President and Chairman of the Management Board, Rosneft, Nelson Ocuane, President, Empresa Nacional Hidrocarbonetos De Moçambique (Mozambique National Oil Company, ENH) and Paulino Gregório, Director, ENH signed a Memorandum of Understanding at the 21st World Petroleum Congress on June 16, 2014.

Under the Memorandum, the parties will look into areas of mutual interest and cooperation, including joint bidding in upcoming hydrocarbons exploration and production licensing rounds in the Republic of Mozambique.

Background note:

In 2010 and 2011 a series of major gas discoveries were made in offshore Mozambique. Gas dominates the republic’s hydrocarbon portfolio with offshore resources estimated at 3.7bcm and proven reserves standing at 1.03bcm as of early 2014.

The country’s key gas potential is focused in the Rovuma Basin with estimated 2.2bcm of gas and the Mozambique river basins.

Rosneft Information Division
Tel.: +7 (499) 517 88 97
www.rosneft.com
June 6, 2014

 

These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.