Exxon, Eni in talks to sell gas from Mozambique offshore project

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Oil and gas giants Eni and ExxonMobil are working to find buyers for gas to be produced from the gas fields of the Area 4 block offshore Mozambique.

Senior management representatives of the co-venture parties in the Rovuma LNG project met today during World Gas Conference in Washington, D.C. to affirm marketing progress.

The project is co-owned by ExxonMobil, Eni, CNODC, ENH, Kogas, and Galp.

Massimo Mantovani, Eni chief gas and LNG marketing and power officer:“The key strength of Area 4 is the quality of the co-venture partnership. Following the final investment decision on Coral South FLNG in 2017, we are working together to develop the remaining gas fields which will feed the Rovuma LNG trains, taking full advantage of the expertise of all our co-venture parties.”

“We have made significant progress on marketing and are now in active negotiations on binding sales and purchase agreements for Rovuma LNG with some affiliated buyer entities of the Area 4 co-venturers,” Peter Clarke, president of ExxonMobil Gas and Power Marketing Company, said at the World Gas Conference. “These commitments will help us progress toward a final investment decision, which we expect to reach in 2019.”

The initial phase of the Rovuma LNG project will develop the Mamba reservoirs in Area 4. ExxonMobil Moçambique Limitada will lead construction and operation of liquefaction trains and related onshore facilities for the Rovuma LNG project, while Eni Rovuma Basin will lead upstream developments and operations.

In parallel to the marketing, Exxon said that the co-venturers were also advancing financing activities and working with the government of Mozambique to progress approval of the project.

The Area 4 concession is located offshore of the Cabo Delgado province of northern Mozambique and is operated by Mozambique Rovuma Venture S.p.A., owned by ExxonMobil Development Africa B.V., Eni S.p.A. and CNODC Dutch Cooperatief U.A., which holds a seventy percent interest alongside Galp Energia Rovuma B.V., KG Mozambique Ltd. and Empresa Nacional de Hidrocarbonetos E.P., each of which holds a 10 percent interest.

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