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Africa’s Premier Oil Independent: Secures Significant Stake In Mozambique’s Mazenga Gas Block

Aiteo

Africa’s Premier Oil Independent: Secures Significant Stake In Mozambique’s Mazenga Gas Block

Aiteo, Africa’s leading oil independent, has broadened its portfolio with a substantial acquisition of a major stake in Mozambique’s Mazenga gas block, recognized as the largest onshore gas reserve in Sub-Saharan Africa.

The completion of this acquisition followed a series of farm-in agreements with Mozambique’s national oil company, Empresa Nacional de Hidrocarbonetos (ENH), positioning Aiteo as the operator of the Mazenga block.

Covering approximately 23,000 square kilometers in Mozambique’s sedimentary basin, the Mazenga assets are estimated to harbor a considerable gas reserve of 19 trillion cubic feet, underscoring the block’s immense potential.

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

Aiteo, already a significant player as Africa’s largest indigenous oil producer, contributes nearly 100,000 barrels of oil per day and over five percent to Nigeria’s daily oil output.

With its expansion into Mozambique, Aiteo is aggressively pursuing exploration and production opportunities across Africa and beyond, complementing its existing assets in the Niger Delta basin and the Benue Trough.”

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