ExxonMobil to Buy into Area 4 as Mozambique Projects Advance

25 January 2017: ExxonMobil is expected to become operator of Mozambique’s giant Area 4, with a 25% stake in the 85-Tcf offshore block in a sale worth up to $3 billion. Exxon would acquire equity from ENI in a development expected to feed tens of millions of tons of new LNG production, beginning with a 3.4-MMt/y floating LNG (FLNG) project, Coral South, which is expected to hit final investment decision (FID) stage in the first quarter of 2017. Please fill out the form to access the full article.