The Chairman of the Board of Directors of the National Petroleum Institute, Nazário Bangalane, revealed that the contracts for the Concession of Areas for Exploration and Production of Hydrocarbons in Mozambique are expected to be signed this quarter, i.e. by October.

Quoted today by the morning paper NewsBangalane said that the process of clarifying the contractual terms with the companies that won the VI Tender for Hydrocarbon Exploration and Production Areas was currently underway. This work could be completed at any time.

He explained to the newspaper that it wasn't a question of negotiating contracts, but of clarifying doubts.

"It's a process that's progressing satisfactorily, and we think it will be closed soon," he said.

The tender in question was launched in 2021, and covers 16 offshore areas close to the basins of Mozambique, namely (Angoche, Zambezi and Save regions) and Rovuma, totaling around 92,000 square kilometers.

Of the 16 Areas, 15 were won by Chinese companies, with the exception of Area 6, which went to Italy's Eni.

It is estimated that for the first sub-period of the research program, investments will amount to 470 billion US dollars.