Mozambican President Filipe Nyusi announced last week that Exxon Mobil is actively “mobilising resources and funding” to resume its project in Cabo Delgado, with discussions focusing on security updates in the northern region.
Nyusi briefed journalists on his visit to Washington this week, highlighting Exxon Mobil’s keen interest in restarting operations in Mozambique.
He stated that the multinational is currently in the process of securing resources and funding for the project.
Exxon Mobil had previously indicated that investment in Mozambique’s natural gas sector is on track for a Final Investment Decision by 2025, with production slated to commence by the end of the decade.
The company’s vice president for oil and gas exploration, Peter Clarke, emphasized the importance of the security situation in the region, noting that it has been well managed.
Nyusi revealed that Mozambique’s government maintains regular dialogue with Exxon Mobil, underscoring ongoing discussions to facilitate the project’s progress.
Exxon Mobil’s Vice President for Foreign Affairs, Walter Kansteiner, confirmed the company’s cautious approach to finalizing investment decisions during discussions in Washington.
Kansteiner stressed the careful consideration of various factors before announcing the Final Investment Decision for natural gas projects in Mozambique.
The Exxon Mobil project in Cabo Delgado, initially expected to produce 15.2 million tonnes annually, now anticipates annual production of 18 million tonnes.
Despite challenges posed by terrorist attacks in the region over the past six years, the company remains committed to advancing its operations.
Mozambique has approved three development projects to harness natural gas reserves in the Rovuma basin, a significant global resource located off the coast of Cabo Delgado.
While work on the TotalEnergies-led project (Area 1 consortium) remains suspended following security concerns, ExxonMobil and Eni (Area 4 consortium) are actively pursuing their investment in the region.
