The development plan for the Rovuma LNG project, which develops gas from three reservoirs in the Area 4 block offshore Mozambique, has been approved by government officials.
The news was announced May 14 by Exxon Mobil Corp., which jointly leads the project with Italy’s Eni. Partners in the Mozambique Rovuma Venture also include CNPC, Empresa Nacional de Hidrocarbonetos EP, Galp and KOGAS.
A final investment decision is expected later this year.
Exxon Mobil has said the deepwater block contains more than 85 trillion cubic feet of natural gas. The plan includes two LNG trains with a combined annual capacity of more than 15 million tons. Sales and purchase agreements for 100% of the LNG capacity for trains 1 and 2 have been submitted to the Mozambican government for approval, the company said.
“During the production phase, the Rovuma LNG project expects to provide up to 17,000 tons of liquefied petroleum gas (LPG) per year in Mozambique from Area 4 resources,” the release said. “The amount equates to about 50% of the country’s current LPG imports. Area 4 partners also plan to distribute up to 5,000 LPG burners and cooking stoves in the Afungi area to replace the burning of wood.”
ExxonMobil will lead construction and operation of natural gas liquefaction and related facilities, while Eni will lead construction and operation of upstream facilities, the release said.
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The lender group for Venture Global's $5.8 billion construction financing includes the world's leading Asian, European and North American project finance banks, the company said.