Qatar Petroleum interested in Mozambican gas

13 September 2016

Qatar Petroleum will join Exxon Mobil to buy part of the Eni group’s gas operation in Mozambique, according to the Economic Times.

Italian public company Eni plans to sell 50% of its stake in Area 4 of the Rovuma basin in northern Mozambique, in order to raise 5 billion euros over the next two years.

Area 4 of the Rovuma Basin has gas reserves estimated at 85 trillion cubic metres.

Qatar Petroleum, through its CEO Saad al-Kaabi, recently confirmed that it was interested in acquiring stakes in gas concessions in Africa.

Exxon Mobil is already a partner of Qatar Petroleum in development projects of local gas reserves.

In 2013 Eni sold 20% of Area 4 to China National Petroleum Corporation (CNPC) for US$4.2 billion. (macauhub/MZ/CN)