Hydro gains Mozambique concession

Feb. 20, 2006
Hydro and state oil company to search for hydrocarbons offshore Mozambique

Offshore staff

(Pemba) - Norway's Hydro has been awarded an exploration and production license in the Rovuma Basin offshore Mozambique. Hydro will operate the concession, which extends over 14,500 sq km, with state oil company Empresa Nacional de Hidrocarbonetos taking a 10% interest.

The contract was signed in Pemba in the north of the country last week by Esperanca Luarinda Bias, Minister of Mineral Resources. Water depths in the license area range from shallow to over 2,000 m. Hydro will manage any ensuing activity from its office in Luanda.