Statoil quits talks over a stake in Mozambique offshore block

OSLO: Statoil decided to quit negotiations over a 25.5 percent stake in Mozambique's offshore A5-A block after more than two years of talks, a company spokesman said Monday.

"Statoil has decided to disengage from negotiations on block A5-A in Mozambique... We are not part of this any more, it is up to the other partners to make any moves regarding the stake," spokesman told Reuters.

Statoil, Eni, South Africa's Sasol and Mozambique's national oil and gas company ENH were awarded the exploration rights in the block of Mozambique's Northern Zambesi basin in 2015.