Rovuma LNG partners closing in on final investment decision

ExxonMobil and Eni are progressing marketing for the Rovuma LNG project, which will liquefy and sell production from the gas fields in Area 4 offshore Mozambique.

Jun 28th, 2018

Offshore staff

WASHINGTON, D.C. – ExxonMobil and Eni are progressing marketing for the Rovuma LNG project, which will liquefy and sell production from the gas fields in Area 4 offshore Mozambique.

Massimo Mantovani, Eni chief gas and LNG marketing and power officer, speaking at the World Gas Conference in Washington, said: “Following the final investment decision onCoral 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,” added Peter Clarke, president of ExxonMobil Gas and Power Marketing Co.

“These commitments will help us progress toward a final investment decision, which we expect to reach in 2019.”

The project’s initial phase will develop the Mamba field reservoirs.

ExxonMobil Moçambique Limitada will lead construction and operation of liquefaction trains and related onshore facilities for the Rovuma LNG project, with Eni Rovuma Basin managing upstream developments and operations. In parallel, the co-venturers are advancing financing activities and working with Mozambique’s government to progress approval of the project.

Area 4 is offshore Cabo Delgado province, northern Mozambique and is operated by Mozambique Rovuma Venture., 70% co-owned by ExxonMobil Development Africa., Eni and CNODC Dutch Cooperatief U.A. Galp Energia Rovuma B.V., KG Mozambique and Empresa Nacional de Hidrocarbonetos E.P. each hold a 10% interest.

06/28/2018

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