Petroleum Africa
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Sunday, October 23, 2016
The deal that would have ENI selling another stake in its prolific natural gas block in Mozambique, Offshore Area 4, has not yet been closed. ENI says it is still in talks with a buyer but terms have yet to be reached, according to reports.
ENH chairman Omar Mitha, was quoted by Noticias as saying ExxonMobil will be the partner on Offshore Area 4. Mitha says the US supermajor’s entry is a big gain. “We are talking about a major” player “in the global gas market, so this entry is a clear sign that our country is desirable. It is also expected that the context will change because, at the moment it is not favorable, as there is an excess of supply against demand and also because there was a change from a technological point of view, with shale gas gaining a certain dominance in the market,” Mitha told Noticias.
“ExxonMobil is already working in Mozambique and we have had regular meetings as partners firstly in the fifth tender in which it has fields in Angoche and in the Sofala and Zambezi blocks and, secondly, in relation to its entry in Area 4,” said the chairman, giving assurances that, in the case of Area 4, the US company will not have a minority holding.
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