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ExxonMobil Completes LNG Acquisition in Mozambique Area 4

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ExxonMobil announced the completion of a transaction by ExxonMobil Development Africa BV to acquire a 25% indirect interest in Mozambique’s gas-rich Area 4 block from Eni and assume responsibility for midstream operations.

ExxonMobil will lead the construction and operation of all future natural gas liquefaction and related facilities, while Eni will continue to lead the Coral floating LNG project and all upstream operations. ExxonMobil said the operating model will enable the use of best practices and skills with each company focusing on distinct and clearly defined scopes while preserving the benefits of an integrated project.

The deepwater Area 4 block contains an estimated 85 Tcf of natural gas in place.

ExxonMobil now owns a 35.7% interest in Eni East Africa SpA. (to be renamed Mozambique Rovuma Venture SpA.), which holds a 70% interest in Area 4, and is co-owned with Eni (35.7%) and CNPC (28.6%). The remaining interests in Area 4 are held by Empresa Nacional de Hidrocarbonetos EP (10%), Kogas (10%) and Galp Energia (10%).

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