The Government of the Republic of Mozambique, through its regulatory agency, the Institute of National Petroleum - INP, has stated that a competitive bidding round for the exploration of 15 blocks with hydrocarbon potential in the offshore areas of Rovuma, Zambezi and Angoche and the onshore areas of Pande-Temane and Palmeira will be announced in London shortly. The formal Announcement, which will be held for invited companies, will take place at the London Hilton Hotel (22 Park Lane) on October 23rd, 2014.

This will be the 5th Licensing Round and will include a total of 15 exploration blocks, comprising a total area of some 76,800 square kilometers (29,652 square miles). Mozambique recently confirmed its proven reserves of 200 Tcf. The 5th Licensing Round is scheduled to be closed on January 20th, 2015.

Also, in August 2014, Mozambique published a New Hydrocarbons Law (Law nº 21/2014) which sets the new legal framework for hydrocarbon related activities in the country. The Law establishes the concession of rights regime to perform oil and gas operations in Mozambique (and offshore), including oil and gas transportation activities. It also regulates the infrastructure owned by the titleholder of concessions or third parties, as mobile equipment of foreign countries with the purpose of leading or assisting the oil and gas operations.