ExxonMobil closes Eni Mozambique deal

IRVING, December 14, 2017 – ExxonMobil has closed a deal struck earlier this year to acquire a 35.7% stake in Eni East Africa and a 25% indirect stake in the Area 4 block offshore Mozambique.

The price tag of the deal was reported earlier this year at USD 2.8 billion.

“ExxonMobil now owns a 35.7% interest in Eni East Africa (to be renamed Mozambique Rovuma Venture), which holds a 70% interest in Area 4, and is co-owned with Eni (35.7%) and CNPC (28.6%),” the super-major said in a statement on Wednesday. “The remaining interests in Area 4 are held by Empresa Nacional de Hidrocarbonetos EP (10%), Kogas (10%) and Galp Energia (10%).”

Eni will remain in charge of upstream operations and the Coral FLNG project, while ExxonMobil will build and operate all future LNG facilities, the statement added.

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