Chinese Energy Major Inks Oil Deal With Mozambique

The China National Offshore Oil Co, or CNOOC, has signed an exploration and production deal for five oil and gas blocks in Mozambique, Reuters reported, citing a CNOOC statement. The five blocks are offshore the African country, in depths ranging between 500 meters and 2,500 meters, the Chinese state-owned company said. The exploration stage of the deal will last for four years, CNOOC also said, with five of its subsidiaries acting as operators for each of the blocks, which the Chinese company will be exploring in partnership with Mozambique’s…