Rosneft, Exxon, Eni, Sasol win exploration rights in Mozambique

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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 sq km

By Manuel Mucari and Katya Golubkova

MAPUTO/MOSCOW, Oct (HKSE: 3366-OL.HK - news) 29 (Reuters) - Russia's Rosneft and partner ExxonMobil are among the four companies to win potentially lucrative exploration rights for fossil fuels off Mozambique's Indian Ocean coast on Thursday, the company said in a statement.

The award comes as Rosneft, the world's top listed oil producer by output, is under Western sanctions over Moscow's role in the Ukraine crisis. Sanctions limit its ability to raise Western funds and curb cooperation on new technology in Russia.

"Mozambique holds significant untapped hydrocarbon resources and being awarded the chance to work there represents a significant achievement for every super major," Rosneft's press office said in a statement to Reuters.

"It (Other OTC: ITGL - news) is worth noting that the country has a balanced fiscal system, which is an additional boost to operational efficiency for companies, implementing new projects in Mozambique."

The deal shows the Kremlin (LSE: 0Q8D.L - news) -controlled company still has its sights on global cooperation despite the chill with the West.

Rosneft and Exxon were awarded three contract areas: A5-B in the Angoche Basin as well as Z5-C and Z5-D in the Zambezi Delta.

Italy's Eni (NYSE: E - news) and South Africa's Sasol (Other OTC: SASOF - news) were also among the winners.

The companies won the bids issued by the Institute of National Petroleum (Other OTC: NLPTF - news) (INP) to explore a total of 15 blocks in an area of some 74,259 sq km.

"Despite the unfavourable economic situation characterised by low prices of petroleum, the bids received have programs demonstrating that Mozambique is an attractive country with significant oil potential," the INP said.

Mozambican officials expect more than $30 billion will be invested initially in the natural gas sector to build capacity to 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 northern Rovuma Basin, where Eni and U.S (Other OTC: UBGXF - news) . oil major Anadarko Petroleum (Other OTC: ANDKU - news) Corp are already developing multi-billion-dollar liquefied natural gas (LNG) export projects.

Mozambique will hold its next bidding rounds to explore new fossil fuel blocks in 2017, a senior official said.

Gas discovered off the coast of Mozambique, one of the world's poorest countries, offers an opportunity to transform a country ravaged by a 16-year civil war that ended in 1992. (Writing by Peroshni Govender; Editing by James Macharia and David Evans)