US oil company ExxonMobil reiterated its commitment to continue investing in the liquefied natural gas (LNG) project in Area 4 of the Rovuma basin, Cabo Delgado province, in northern Mozambique.
The company’s general manager in Mozambique, Arne Gibbs, explained that the company has never stopped its operations and is working hard to develop the project.
“We are coordinating with the Defence and Security Forces (FDS) and the Ministry of National Defence to ensure security. We are also working with the government to help local companies make the most of Local Content, at a time when TotalEnergies is expected to return,” he emphasised.
Speaking on Thursday (22) outside an audience granted by the President of the Republic, Filipe Nyusi, the official emphasised that security in the province, especially in the area where natural gas projects are being implemented, has improved compared to previous years.
“I want to recognise what the FDS has already done. We certainly still have some problems and questions, but I want to emphasise that the situation is better than it was a few years ago,” he said.
Last July, ExxonMobil’s senior vice-president, Peter Clarke, told a conference in Vancouver, Canada, that the liquefied natural gas project was on track for final approval in 2025.
“A lot depends on the security situation, which has been very well managed. The local government is doing a good job and we hope to see more positive news in that regard by the end of the year,” said Clarke, quoted by Bloomberg.
In Mozambique, particularly in Area 4 (operated by Mozambique Rovuma Venture), ExxonMobil holds a 35.7 per cent stake in the concession contract.
Recently, the American financial consultancy firm Deloitte considered that Mozambique’s natural gas reserves could generate revenues of 100 billion dollars.
