A SUBSIDIARY of the state-run China National Offshore Oil Co (CNOOC), has signed significant oil exploration and production contracts with Mozambique’s energy ministry and national energy company ENH, Chinese media reported on Friday. The agreements pertain to five offshore blocks in the waters off Mozambique, covering a total area of approximately 29,000 sq km (11,200 sq miles) with water depths ranging from 500 m to 2,500 m (1,640 ft to 8,202 ft), as stated by Chinese media outlet Jiemian.
The first phase of the exploration period spans four years, with five CNOOC subsidiaries designated as operators, holding the rights and interests for these operations
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