ExxonMobil in Advance Talks with ENI on Mozambique

Sunday, July 31, 2016

According to reports talks between ExxonMobil and ENI over the US firm picking up a minority stake in Mozambique’s Offshore Area 4 are now in the advanced stage. A Bloomberg report cited sources saying ExxonMobil CEO, Rex Tillerson discussing the deal with Mozambique’s president, Filipe Nyusi.

Those same sources revealed that ExxonMobil is also in talks with Anadarko Petroleum for a possible stake in Offshore Area 1.

Recent reports have ENI closing in on the selection of which firm will construct its FLNG vessel for the development of Offshore Area 4. The reports of the pending order for the FLNG vessel could signal that ENI is ready to take the FID on the Mozambican project.

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