ExxonMobil Development Africa has completed acquisition of a 25% indirect in Mozambique’s deepwater Area 4 block from Eni, and will assume responsibility for midstream operations.
While Eni will continue to lead the Coral floating LNG project and all upstream operations, ExxonMobil will take charge of construction and operation of all future natural gas liquefaction and related facilities.
ExxonMobil said this operating model will allow each company to apply its best practices and areas of expertise, with each focused on clearly defined scopes while preserving the benefits of an integrated project. Area 4 contains an estimated 85 tcf in place of natural gas in place.
ExxonMobil now owns a 35.7% in Eni East Africa (to be renamed Mozambique Rovuma Venture), which holds a controlling stake in Area 4. The other partners are CNPC, Empresa Nacional de Hidrocarbonetos E.P, Kogas, and Galp Energia.