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Qatar Petroleum has inked an agreement to buy ExxonMobil’s10% stakes in three blocks in Mozambique. The ExxonMobil affiliate currently owns 60% interest in the blocks. This is Qatar Petroleum’s first expedition into Mozambique’s offshore basins. ENH and Rosneft’s affiliates are the other stakeholders in the block, with each of them owning 20% interest.
Tokyo Gas and Centrica LNG will buy 2.6 million tonnes per annum (MTPA) of liquefied natural gas (LNG) from Anadarko Petroleum and partners, produced under Mozambique LNG project. The LNG supply to the buyers will continue until the early 2040s. Tokyo Gas and Centrica LNG see this agreement as a means to further their respective portfolios of LNG sources.
Attacks by extremist elements are on a rise in Mocimboa da Praia, Mozambique’s gas-rich northern town. This region is 1,800 km northeast of Maputo, and Palma, where the offshore gas reserves that Eni, ExxonMobil, and Anadarko are developing, is about 80 km north of that. This could threaten a potential $30 billion in investment. Unfortunately, the state institutions are unable to control this situation.
French’s Total has announced the closing of Maersk Oil acquisition and has ramped up to about 160,000 boed in 2018. With this, it has sustained its existing leading position in the U.K. and has managed to enter Denmark subsequently making it the second-largest operator in the North Sea. Patrick Pouyanné, Chairman and CEO of Total has expressed it as a “success on many levels.”
Government of Mozambique has approved ONGC Videsh (16% stake) and Oil India (4% stake) for the development work of Golfinho-Atum natural gas field. The plan consists of two-train onshore liquefaction plant with total processing capacity of 12.88 million metric tonnes per annum.