Mozambique’s oil and gas regulator (National Petroleum Institute) expects ExxonMobil to take a final investment decision (FID) on the US$30bn Rovuma LNG project in the northern province of Cabo Delgado in 2021. The FID was originally planned in 2020 with production starting in 2023, but ExxonMobil postponed the decision in a context of coronavirus outbreak and falling oil prices.
In October 2019, the Mozambique Rovuma Venture (MRV) reached an initial investment decision on the Rovuma LNG project. In May 2019, the government of Mozambique approved the development plan for the Rovuma LNG project, which will liquefy and export gas from three reservoirs in the Area 4 block offshore Mozambique. The liquefaction plant will include two LNG trains with a combined capacity of 15.2 Mt/year.
The Mozambique Rovuma Venture, a joint venture of ExxonMobil, Eni and CNPC, owns a 70% stake in the Area 4 exploration and production concession contract, in partnership with Galp, KOGAS and Empresa Nacional de Hidrocarbonetos (ENH), which each hold a 10% stake. ExxonMobil will lead the construction and operation of the LNG plant and related facilities on behalf of the MRV, while Eni will oversee the construction and operation of upstream facilities. ExxonMobil has just selected a consortium comprising Japanese company JGC, Fluor Corp and TechnipFMC to develop the first phase of the project, worth US$500m.
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