Hydro signs for E&P concession offshore Mozambique

Hydro, the government of the Republic of Mozambique, and the national oil company Empresa Nacional de Hidrocarbonetos signed the E&P concession contract for areas 2 & 5 in the Rovuma basin offshore Mozambique.

Offshore staff

(East Africa) - Hydro, the government of the Republic of Mozambique, and the national oil company Empresa Nacional de Hidrocarbonetos (ENH) signed the E&P concession (EPC) contract for areas 2 & 5 in the Rovuma basin offshore Mozambique.

Areas 2 & 5 cover an area of approximately 14,500 sq km immediately to the east and north of Pemba, the provincial capital of the Cabo Delgado province.

Water depths in the areas range from shallow to more than 2,000 m.

Following execution of the contract, the first priority will be to complete an environmental impact assessment prior to conducting initial seismic operations.

Partners in the EPC are Norsk Hydro Oil and Gas Mozambqiue (operator), 90%; and ENH,
10%.

02/17/06

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