Nigerian energy company Aiteo has secured a stake in Mozambique’s Mazenga gas block. The deal, formalized through farm-in arrangements with Mozambique’s National Hydrocarbons Company (ENH), positions Aiteo as the operator of the block, which holds some of the largest onshore gas reserves in sub-Saharan Africa.
Following the deal, Aiteo has initiated an intensive development program involving aeromagnetic and gravitational geological studies, comprehensive field inspections, and reinterpretation and processing of existing data.
“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,” stated Benedict Peters, CEO of Aiteo.
Encompassing an extensive 23,000 km² within Mozambique’s sedimentary basin, the Mazenga block lays claim to an estimated 19 trillion cubic feet of gas reserves.
Aiteo currently produces nearly 100,000 barrels of oil per day, contributing over five percent to Nigeria’s daily oil output.
The expansion into Mozambique fortifies the company’s standing in the African energy sector, complementing its existing assets in the Niger Delta basin and Benue Trough.
