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* Rosneft, one of five companies to win exploration rights
* The award comes despite western sanctions on Russia
* Companies win bids to explore 15 blocks in some 74,259 sqkm
By Manuel Mucari and Katya Golubkova
MAPUTO/MOSCOW, Oct 29 (Reuters) - Russia's Rosneft and partner ExxonMobil are among the four companies towin potentially lucrative exploration rights for fossil fuelsoff Mozambique's Indian Ocean coast on Thursday, the companysaid in a statement.
The award comes as Rosneft, the world's top listed oilproducer by output, is under Western sanctions over Moscow'srole in the Ukraine crisis. Sanctions limit its ability to raiseWestern funds and curb cooperation on new technology in Russia.
"Mozambique holds significant untapped hydrocarbon resourcesand being awarded the chance to work there represents asignificant achievement for every super major," Rosneft's pressoffice said in a statement to Reuters.
"It is worth noting that the country has a balanced fiscalsystem, which is an additional boost to operational efficiencyfor companies, implementing new projects in Mozambique."
The deal shows the Kremlin-controlled company still has itssights on global cooperation despite the chill with the West.
Rosneft and Exxon were awarded three contract areas: A5-B inthe Angoche Basin as well as Z5-C and Z5-D in the Zambezi Delta.
Italy's Eni and South Africa's Sasol werealso among the winners.
The companies won the bids issued by the Institute ofNational Petroleum (INP) to explore a total of 15 blocks in anarea of some 74,259 sq km.
"Despite the unfavourable economic situation characterisedby low prices of petroleum, the bids received have programsdemonstrating that Mozambique is an attractive country withsignificant oil potential," the INP said.
Mozambican officials expect more than $30 billion will beinvested initially in the natural gas sector to build capacityto produce 20 million tonnes per year of liquefied natural gas(LNG), with the first exports due to start in 2018.
On Thursday, the INP said it expected investments of around$700 million in the next four years.
The blocks on offer included three new areas of the northernRovuma Basin, where Eni and U.S. oil major Anadarko PetroleumCorp are already developing multi-billion-dollarliquefied natural gas (LNG) export projects.
Mozambique will hold its next bidding rounds to explore newfossil fuel blocks in 2017, a senior official said.
Gas discovered off the coast of Mozambique, one of theworld's poorest countries, offers an opportunity to transform acountry ravaged by a 16-year civil war that ended in 1992. (Writing by Peroshni Govender; Editing by James Macharia andDavid Evans)
