Only Eni will stay afloat if Exxon takes bite of Rovuma
Anadarko’s days off the Mozambican coast could be numbered. (Anadarko)
After years of circling the warm waters of northern Mozambique, ExxonMobil is preparing to take its first bite out of the Rovuma gas Basin. But although Exxon’s arrival may be good news for the country, it is still unclear what it will mean for Eni and Anadarko, the two companies currently guiding Mozambique’s LNG future.
Exxon is expected to confirm its acquisition of a stake in Eni’s Offshore Area 4 gas block within two weeks, but the deal looks far from straightforward. Wildcat has heard from sources in Maputo that the plan is to split Area 4’s development into onshore and offshore LNG components so that, after the sale, Eni will remain operator of the Coral field and its flagship 3.4 mtpa FLNG project, while Exxon will operate the larger Mamba field and the onshore LNG project.