ExxonMobil – the oil and gas multinational from the United States of America (USA) – announced that it has invested more than 20 million dollars (1.2 billion meticals) in Mozambique since 2017 as part of its local content development strategy, emphasising that it plans to direct more investments into the national economy through future projects.
The information was made public by the company’s Director of Public and Government Affairs in Mozambique, Armando Afonso, during a round table discussion on ‘Investing in African Energies’, organised by the African Energy Chamber and the Mozambique Energy Chamber. He emphasised that the expanding opportunities in the oil and gas sector are reinforcing ExxonMobil’s commitment to investing in local content.
Quoted by African Energy, Armando Afonso emphasised that the vast reserves in Area 4, the country’s privileged location, strategic access to the market and the low emissions profile of the Rovuma LNG project are the main drivers of ExxonMobil’s commitment.
‘With the start-up of the Rovuma LNG project, our impact on local content will continue to grow, creating opportunities throughout the economy. Although we are not yet in production, we have already positioned ourselves as leaders in the field, especially after the creation of our Primary Centre for the Training of Local Small and Medium Enterprises, as well as the existence of our supplier portal to allow companies to register and partner with us,’ he described.
For his part, Valerio Parasiliti Parracello, Eni’s Exploration Director in Mozambique, emphasised that although the company is currently producing from just six wells in the Coral South FLNG project, there are other significant opportunities for further expansion. ‘With Coral Norte and the onshore projects, we see great potential to expand our portfolio and production in the country,’ he emphasised.
The Geosciences and Reservoirs manager for TotalEnergies’ Mozambique LNG project, Christelle Demars, emphasised that the high-quality gas resources in the Rovuma basin are a major attraction for the company, pointing out that ’in just one area, we have 65 trillion cubic feet, which will unlock huge investments.’
She also emphasised that the French oil company will supply gas to the local market as part of its agreement with the government and its strategy to develop local content.
