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Monday, August 8, 2016
More reports on ExxonMobil joining ENI in the development of Mozambique’s natural gas resources offshore the country are making the rounds. The latest report has the deal between the two being completed and ExxonMobil joining ENI on Offshore Area 4.
While neither firm would comment on the report, a Reuters source said that although the deal is complete it will not be officially announced at the US firm’s request.
The buy into Area 4 is not the only acreage ExxonMobil will hold in Mozambique; the company was awarded three exploration blocks in Q4 2015
ENI has been intimating for some time that it wanted to sell a portion of its stake, but it has also wanted to remain operator. CEO Claudio Descalzi told analysts that the company’s model was to “remain and keep the operatorship or keep, in any case, a clear control on the asset – the asset that we discovered.”
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