Africa Monitor

Africa Monitor Intelligence

Mozambique: ExxonMobil-Rosneft Partnership in Cause for Western Sanctions on Russia

In 2018, ExxonMobil and Rosneft decided to create a consortium for the joint exploration of the three offshore blocks. The US oil company holds 50% of the capital, Rosneft holds 20%, a percentage equal to that of Empresa Nacional de Hidrocarbonetos (ENH), while Qatar Petroleum has 10%.

The project in Angoche and Zambezi has been postponed due to Exxon's involvement in Area 4, still uncertain due to the suspension of work by Area 1, led by Total, with which it will share several infrastructures, and the Covid-19 crisis. READ MORE