Aiteo, a Nigerian energy company, has acquired a stake in Mozambique’s Mazenga gas block through formalised farm-in arrangements with Mozambique’s National Hydrocarbons Company (ENH). This positions Aiteo as the operator of the block, which boasts some of the largest onshore gas reserves in sub-Saharan Africa.
Following the deal, Aiteo has initiated an intensive development programme involving aeromagnetic and gravitational geological studies, comprehensive field inspections, and the 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.
Currently, Aiteo is producing nearly 100,000 barrels of oil per day, making a contribution of over five percent to Nigeria’s daily oil output. The company’s expansion into Mozambique strengthens its position in the African energy sector, enhancing its existing assets in the Niger Delta basin and Benue Trough.
