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)