Eni recorded a 61.7% sequential increase in adjusted quarterly profit on Wednesday, posting EUR 744 million for the first three months of the year.
The company’s…
READ MOREGas reserves5.1 tcm
Gas production6 bcm
Mozambique’s oil and gas industry has greatly grown in significance with the discovery of major offshore gas plays beginning in 2010. Continued finds and investment have fast tracked the nation towards its potential of being the third-largest global LNG supplier, with operators TotalEnergies, Eni and ExxonMobil leading the charge through massive development of upstream and associated facilities. Mozambique traditionally only produced gas from its onshore plays operated by South Africa’s Sasol. The country produces no oil and is reliant on imports.
The African nation has worked hard to streamline policies and break down bottlenecks in meeting its immense capacity potential. However, security issues and economic factors have largely held back massive development, with many projects put on hold. Government involvement in hydrocarbons operations is done through local NOC Empresa Nacional de Hidrocarbonetos, which is a necessary stakeholder in all oil and gas operations. Upstream E&P concessions are handed out and overseen by state-body National Petroleum Institute, which has been active in carrying out seismic studies to expand the country’s investment potential.
“LNG offers a huge economic, but arguably more importantly a development opportunity, for Mozambique. The Rovuma Basin alone has the capacity to boost Mozambican GDP by up to USD 18 billion per annum.” Managing Associate Nuno Manshilha and Trainee Lawyer Miguel Couto at CMS Portugal told The Energy Year.
“The projects offer the potential to create over 300,000 employment opportunities alone, and in order to meet the mega-project’s needs, Mozambique will have to improve their water, road and electricity infrastructures, adding to the development benefits of these types of projects.”
Galp Energia has confirmed more than 10 billion barrels of oil equivalent at the Mopane discovery offshore Namibia.
READ MOREThe ExxonMobil-led Rovuma LNG project in Mozambique has taken a step forward with a bid process for subsea works.
READ MOREChina's CNOOC has entered Mozambique with the award of five offshore exploration blocks.
READ MOREMozambique tripled its income from LNG sales to USD 1.7 billion in 2023.
READ MOREExxonMobil has launched a tender for EPC services for camp construction at the Rovuma LNG project in Mozambique.
READ MOREJanice Faria of Enagol talks about the company’s involvement in Angola’s upstream sector.
READ MOREEni recorded a 61.7% sequential increase in adjusted quarterly profit on Wednesday, posting EUR 744 million for the first three months of the year.
The company’s…
READ MORETOGY talks to Emad Elatreby, general manager of Ali & Sons Marine Engineering Factory (ASMEF). Founded in 2009, ASMEF is an Abu Dhabi-based engineering company that…
READ MOREExxonMobil’s deal with Eni earlier this month for the acquisition of a 25% stake in the Area 4 block off Mozambique means a tax windfall for the government.…
READ MOREExxonMobil closed a deal with Eni on Thursday for the acquisition of a 25% stake in the Area 4 block off Mozambique.
The transaction will see ExxonMobil make a cash…
READ MOREKorea Gas Company (Kogas) has green lit investment in Mozambique’s Area 4 Coral South floating LNG (FLNG) project, a note published on Thursday read.
Kogas has…
READ MORETOGY talks to Jean Cousquer, Congo country manager for SICIM, about the country operations in Congo, its expansion plans, and where the local market might be heading in…
READ MOREItalian super-major Eni plans to invest USD 10 billion during the initial development stage of its deepwater Coral South floating LNG (FLNG) project offshore…
READ MOREItalian super-major Eni on Friday announced that its board of directors had approved the investment plan for the Coral South floating LNG (FLNG) project offshore…
READ MOREMozambique is planning to hold a sixth oil and gas licensing round in 2017 or 2018, a government official told the Africa Oil Week conference in Cape Town.
Augusto…
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