Mozambique

French Total pays $3.9 billion for Anadarko’s Mozambique LNG interest

September 30, 2019 | Asset Acquisitions & Divestitures, LNG & LPG, Mozambique

Paris, France |  – French multinational integrated oil and gas company Total S.A has closed the acquisition of Anadarko’s 26.5% operated interest in the Mozambique LNG project for a purchase price of $ 3.9 billion. This closing comes after Total reached a binding agreement with Occidental on May 3, 2019, to acquire Anadarko’s assets in Africa (Mozambique, Algeria, Ghana and South Africa) and signed the subsequent Purchase and Sale Agreement on August 3, 2019. This first transaction follows receipt of all requisite approvals by the …

Mozambique to establish sovereign wealth fund to govern gas revenue

March 27, 2019 | Economy, Government & Regulations, Mozambique

London, UK | – Mozambique’s government plans to establish a sovereign wealth fund to manage income from future gas production, President Filipe Nyusi said. The state will also allocate a fixed portion of revenue to the state budget to fund infrastructure development, poverty reduction and economic diversification, Nyusi said in a speech on Wednesday in the capital, Maputo. Companies including Eni SpA and Anadarko Petroleum Corp. are developing gas discovered nine years ago in deep waters off the coast of Mozambique, one of the world’s …

Multinational oil giants granted exclusive rights for Block 5 offshore Mozambique

August 08, 2018 | Government & Regulations, Licensing & Concessions, Mozambique

London, UK | – The Government of Mozambique has approved a series of contracts giving exclusive concession rights to major oil companies to explore Block 5 for oil offshore Mozambique, after concluding four years of negotiations, disrupted by delays. The contracts would give new exploration project concessions to energy companies, namely Norway’s Equinor, Italy’s Eni, ExxonMobil, Delonex Energy, and South African-based Sasol, as well as Mozambique’s national oil company ENH. GlobalData senior oil and gas analyst Will Scargill said: “Little exploration work has been carried …

Mozambique, Shell sign MoU on Rovuma Basin natural gas for domestic use

June 22, 2017 | Government & Regulations, Mozambique

Maputo, Mozambique | – Mozambican Minister of Mineral Resources and Energy Leticia Klemens and the Vice President of Anglo-Dutch oil company Shell, Clare Harris, have signed a memorandum of understanding (MoU) on the allocation of natural gas from the Rovuma Basin, in northern Mozambique, for domestic use. The signing of the MoU follows the results of the public tender for awarding the gas for domestic use, which were published in January. Among the three winning bids was one from Shell-Mocambique, which requested between 310 and …

Italy’s Eni signs LNG deal in Mozambique, raising hopes of gas boom

June 02, 2017 | Company Operations, LNG & LPG, Mozambique

London, UK | – Italian multinational energy company Eni signed an $8-billion deal on Thursday to develop a gasfield off the coast of Mozambique, the first of a series of projects that could transform the poor African nation into a major energy supplier to Asia. Developing the Coral South field, discovered in May 2012 and operated by Eni, requires building six subsea wells connected to a floating facility capable of producing about 3.4-million tonnes of liquefied natural gas (LNG) per year, Eni said. The project would cost $8-billion and LNG exports were expected to start in 2022, Eni said. “The Coral South Project will deliver a reliable source …

Sasol completes first ever onshore 3D seismic campaign in Mozambique

October 11, 2016 | Mozambique, Products, Services & Techniques

London, UK | – South African multinational integrated energy and petrochemical company Sasol has completed the first ever three-dimensional (3D) onshore seismic programme, in the Inhassoro field, in Mozambique. This involved acquiring 115 km2 of data in the Inhassoro field, which forms part of Sasol’s onshore production sharing agreement (PSA) licence area. To be developed in phases, the first phase of the PSA licence area development proposes an integrated oil, liquefied petroleum gas (LPG) and gas project adjacent to Sasol’s existing petroleum production agreement (PPA) area. Sasol has made significant progress on Tranche 1 of the PSA development …

Exxon Mobil in talks to buy into Eni’s giant Mozambique gas field

March 25, 2016 | Asset Acquisitions & Divestitures, Company Operations, Mozambique

London, UK | – American multinational oil and gas corporation  and the world’s largest publicly traded international oil and gas company, Exxon Mobil Corporation is in talks to buy a stake of around 15 percent in Italian oil major Eni’s giant Area 4 gas field in Mozambique, two sources familiar with the matter said. Exxon is seen as a front-runner to buy into Eni’s gas development and this would be the U.S. firm’s first big acquisition since the oil price collapse. Area 4, in which Eni …

Mozambique-South Africa gas pipeline to be expanded by 2017

December 05, 2015 | Mozambique, Pipelines, South Africa

Johannesburg, South Africa | – Multinational petrochemicals company Sasol, the Mozambican and South African governments will invest a total of $210 million to build a new gas pipeline by 2017 that will increase the amount of gas shipped from Mozambique to its bigger neighbour. With the addition of the new line, 212 million gigajoules of gas will be piped from Mozambique to South Africa per year, up from 188 million gigajoules a year now, the Republic of Mozambique Pipeline Investment Company (ROMPCO) said on Monday. …