ExxonMobil, the US oil and gas multinational, announced that it has invested more than 20 million dollars (1.2 billion meticais) in Mozambique since 2017, as part of its local content development strategy. The company also reinforced its commitment to continuing to boost the national economy through future projects.
The information was released by ExxonMobil’s Director of Public and Government Affairs in Mozambique, Armando Afonso, during the Invest in African Energies roundtable, organized by the African Energy Chamber and the Mozambique Energy Chamber. According to Afonso, the expansion of opportunities in the oil and gas sector is strengthening the company’s commitment to investing in local content.
He pointed out that the vast reserves in Area 4, Mozambique’s strategic location and the low emissions profile of the Rovuma LNG project are key factors for ExxonMobil’s continued commitment in the country. “With the start-up of the Rovuma LNG project, our impact on local content will continue to grow, creating opportunities across the economy. Although we are not yet in production, we have already positioned ourselves as leaders in the field, especially with the creation of our Primary Center for the Training of Local Small and Medium Enterprises and the implementation of our supplier portal to facilitate registration and partnerships,” said Afonso.
Expansion of operations by other multinationals
In addition to ExxonMobil, other international oil companies have also expressed interest in expanding their operations in Mozambique. Eni’s Director of Exploration in the country, Valerio Parasiliti Parracello, pointed out that although current production only occurs in six wells of the Coral Sul FLNG project, there are significant opportunities for expansion. “With North Coral and the onshore projects, we see great potential to expand our portfolio and production in the country,” he said.
For her part, Christelle Demars, Geosciences and Reservoirs Manager for Mozambique LNG at TotalEnergies, pointed out that the gas resources of the Rovuma Basin represent a major attraction for the company. “In just one area, we have 65 trillion cubic feet of gas, which will unlock huge investments,” noted Demars. She also reinforced TotalEnergies’ commitment to supplying gas to the local market, in line with the agreement reached with the government and its strategy of strengthening local content.
