Qatar Petroleum joins forces with ExxonMobil for acquisitions in Mozambique

7 July 2016

The ExxonMobil and Qatar Petroleum groups have decided to join forces to assess possible acquisitions of energy assets in Mozambique, where huge natural gas deposits have been discovered, financial news agency Bloomberg reported.

The agency, citing sources close to the process said that the two oil groups are examining the possible purchase of stakes in the Area 1 and Area 4 blocks of the Rovuma basin in northern Mozambique, operated by US group Anadarko Petroleum and Italy’s ENI, respectively.

Last May, the CEO of ENI group, Claudio Descalzi, said he was in talks to sell part of its stake in the Area 4 block and added he expected a final investment decision by the end of the year.

In October 2015 the ExxonMobil group obtained three licenses for oil exploration in offshore blocks south of blocks where US group Anadarko Petroleum and Italy’s ENI discovered natural gas deposits.

The economic links between ExxonMobil and Qatar Petroleum, the world’s largest exporter of liquefied natural gas, include the RasGas partnership, which extracts and liquefies natural gas extracted in Qatar and a gas terminal in the state of Texas, USA. (macauhub/MZ)