Africa’s Leading Oil Independent Secures Major Stake in Mazenga Gas Block in Mozambique

Aiteo, Africa’s leading independent oil company, has increased its portfolio by acquiring a significant part in Mozambique’s Mazenga gas block, which contains the largest onshore gas reservoir in Sub-Saharan Africa. Following a series of farm-in agreements with Mozambique’s national oil corporation, Empresa Nacional de Hidrocarbonetos (ENH), Aiteo was designated as the block’s operator.

The Mazenga assets, nestled in Mozambique’s rich sedimentary basin, span approximately 23,000 square kilometers. They are estimated to contain a substantial gas reserve of 19 trillion cubic feet, highlighting the block’s significant potential.

In response to the acquisition, Aiteo has swiftly launched an intensive development program. This includes aeromagnetic and gravitational geological studies, thorough field inspections, and the reinterpretation and processing of existing data.

Aiteo CEO Benedict Peters articulated the company’s dedication to robustly investing in gas development initiatives. These efforts aim to accelerate and enhance Mozambique’s upstream gas resources.

Peters noted, “The assets we are investing in are situated in a region with some of the highest gas production potential in Mozambique. Our approach is rooted in our strategy of actively engaging with unique energy assets across Africa. We aim to elevate our profile and expand our global gas resources to meet industry-leading standards within the continent. Our proven track record gives us confidence in our ability to develop these assets, benefiting both Mozambique and all stakeholders.”

Mozambique is home to some of the world’s largest natural gas reserves, particularly in the Rovuma Basin, estimated to hold over 100 trillion cubic feet of natural gas. The country is currently developing several large-scale liquefied natural gas projects with the involvement of international oil companies like Total, ENI, and ExxonMobil. These projects are focused on extracting and exporting liquefied natural gas, with notable initiatives including Total’s Mozambique LNG project and ENI’s Coral South FLNG project.

Aiteo, as Africa’s largest indigenous oil producer, already plays a significant role in the continent’s oil industry, producing nearly 100,000 barrels of oil per day and contributing over five percent to Nigeria’s daily oil output. Now, with its expansion into Mozambique, Aiteo is aggressively pursuing exploration and production opportunities across Africa and beyond, adding to its existing assets in the Niger Delta basin and the Benue Trough.