Africa Monitor Intelligence

Mozambique: ExxonMobil and Eni Portfolio Sale Scenario puts at risk Rovuma Project

Such a scenario for Mozambique may represent further delays in the development of the Rovuma LNG (offshore) project, belonging to Area 4, through which the consortium would produce natural gas from the blocks located in Mamba.
With the prospects for starting operations continuing, in the first place, to depend on the conclusions of the process of redefining the costs of the project, under analysis by the operator (Exxon Mobil), the possibility of the participation being put on the market for sale is now considered higher.
Currently, it is very unlikely that the Final Investment Decision (FID) will take place before the end of next year (AM 1299), a situation that is aggravated by the persistent insecurity in Cabo Delgado that devalues ​​the assets of the consortium, as is the case with Area 1, led by Total, whose development of the project in Afungi is suspended until security conditions for resumption exist. READ MORE