[2019-11-18] Mozambique Area 4 Block to have final investment decision in April 2020

Source: Macauhub

US group ExxonMobil and other partners of the Area 4 block of the Rovuma basin, in northern Mozambique, have scheduled the approval of the final investment decision in that block for April 2020, Mozambican newspaper O País reported recently.

This is an investment of about US$25 billion, and the development plan for the liquefied natural gas project in the so-called “Mamba Complex” has already been approved by the Mozambican government.

“We are getting the latest details on the amount of gas to be guaranteed for domestic consumption by this project,” said Benjamin Chilenge, a member of the Board of Directors of Mozambican state oil and gas company ENH.

The final investment decision for the Coral Sul project, led by Italian group ENI, in the same Area 4 block, was made in June 2017, involving an estimated investment of US$8 billion.

For Area 1, which has the French group Total as the operator, with a 26.5% stake, the final investment decision was approved in June 2019, with an investment of US$23 billion.