International Oil Companies highlighted Mozambique as an attractive investment destination during the African Energy Chamber’s Invest in African Energies: Mozambique Roundtable in Maputo on Thursday
Global energy major, ExxonMobil has invested over $20 million in Mozambique as part of its local content development strategy since 2017 and plans to direct more investments in the local economy through upcoming projects, according to Armando Afonso, Public & Government Affairs Manager, ExxonMobil Mozambique.
Speaking at the Invest in African Energies: Mozambique Roundtable, organized by the African Energy Chamber and the Mozambique Energy Chamber, Afonso said expanding opportunities within Mozambique’s oil and gas sector are strengthening ExxonMobil’s commitment to local content investments.
Afonso highlighted the vast reserves in Area 4, the country’s prime location and strategic market access, and the Rovuma LNG project’s low-emissions profile as key drivers of ExxonMobil’s commitment. He also highlighted the potential for integrating renewable energy sources such as solar, wind and hydrogen production within the Area 4 project.
“With the ramp-up of the Rovuma LNG project, our impact on local content will continue to grow, creating opportunities across the entire economy,” he stated. “Even though we are not yet in production, we have already positioned ourselves as a leader in local content with our Primary Center training local SMEs and our supplier portal enabling local businesses to register and partner with us.”
Adding to the discussion Valerio Parasiliti Parracello, Exploration Manager at Eni Mozambique pointed out that while the company currently produces from only six wells at the Coral South project, significant opportunities exist for further expansion.
“With Coral North and onshore projects, we see great potential to expand our portfolio and production in Mozambique,” he said.
Christelle Demars, Geoscience & Reservoir Manager for TotalEnergies’ Mozambique LNG Project, emphasized the high-quality gas resources in the Rovuma Basin as a major attraction for the company. “In just one area, we have 65 trillion cubic feet of gas, which will unlock enormous opportunities for Mozambique,” she stated.
She said TotalEnergies will supply gas to the local market as part of its agreement with the government and local content development strategy.
SOURCE: Distributed by APO Group / African Energy Chamber.
