{"id":6616,"date":"2017-12-13T17:14:14","date_gmt":"2017-12-13T17:14:14","guid":{"rendered":"http:\/\/www.oilnewskenya.com\/?p=6616"},"modified":"2017-12-13T17:22:24","modified_gmt":"2017-12-13T17:22:24","slug":"exxonmobil-completes-lng-acquisition-eni-mozambique-area-4","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/exxonmobil-completes-lng-acquisition-eni-mozambique-area-4\/","title":{"rendered":"ExxonMobil Completes LNG Acquisition From Eni in Mozambique Area 4"},"content":{"rendered":"<p>ExxonMobil\u00a0has announced the completion of a <a href=\"http:\/\/bit.ly\/2mqyIFo\">transaction<\/a> by ExxonMobil Development Africa B.V. to acquire a 25 percent indirect interest in Mozambique\u2019s gas-rich Area 4 block from Eni and assume responsibility for midstream operations.<\/p>\n<p>ExxonMobil will lead the construction and operation of all future natural gas liquefaction and related facilities, while Eni will continue to lead the Coral floating LNG project and all upstream operations. The operating model will enable the use of best practices and skills with each company focusing on distinct and clearly defined scopes while preserving the benefits of an integrated project.<\/p>\n<p>\u201cExxonMobil brings our LNG leadership and experience to support development of Mozambique\u2019s high-quality natural gas resources. We are confident that our project and marketing expertise, coupled with our financial strength, will help grow the value of Mozambique\u2019s energy resources. We will work closely with our partners to develop this world-class resource,\u201d said Darren W. Woods, chairman and chief executive officer.<\/p>\n<p>Just last week Eni, together with its Area 4 Partners, <a href=\"http:\/\/bit.ly\/2Am1Hil\">announced<\/a> that the Coral South FLNG multi-sourced project financing achieved financial close, for a total amount of US$ 4,675,500,000 split in seven facilities including: five Export Credit Agency Covered Loans, one Commercial Bank Direct Loan and a direct loan<\/p>\n<p>Natural gas is projected to be the world\u2019s fastest-growing major fuel source, and Mozambique is well-positioned to supply LNG customers around the world with the deepwater Area 4 block containing an estimated 85 trillion cubic feet of natural gas in place.<\/p>\n<p>ExxonMobil now owns a 35.7 percent interest in Eni East Africa S.p.A. (to be renamed Mozambique Rovuma Venture S.p.A.), which holds a 70 percent interest in Area 4, and is co-owned with Eni (35.7 percent) and CNPC (28.6 percent). The remaining interests in Area 4 are held by Empresa Nacional de Hidrocarbonetos E.P. (10 percent), Kogas (10 percent) and Galp Energia (10 percent).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ExxonMobil\u00a0has announced the completion of a transaction by ExxonMobil Development Africa B.V. to acquire a 25 percent indirect interest in Mozambique\u2019s gas-rich Area 4 block from Eni and assume responsibility &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/exxonmobil-completes-lng-acquisition-eni-mozambique-area-4\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":4403,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[11],"tags":[479,6632,766,768,860,4107,3754,1428,6631],"class_list":["post-6616","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-cnpc","tag-coral-floating-lng-project","tag-enh","tag-eni","tag-exxonmobil","tag-galp-energia","tag-kogas","tag-lng","tag-mozambique-area-4","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/02\/Area-4-coral-mamba-discoveries.png?fit=602%2C612&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-1II","jetpack-related-posts":[{"id":5747,"url":"https:\/\/www.oilnewskenya.com\/index.php\/exxonmobil-to-acquire-25-interest-in-mozambique-area-4-from-eni\/","url_meta":{"origin":6616,"position":0},"title":"ExxonMobil to Acquire 25% Interest in Mozambique Area 4 from Eni","author":"","date":"March 9, 2017","format":false,"excerpt":"ExxonMobil\u00a0and Eni\u00a0have signed\u00a0today a sale and purchase agreement to enable ExxonMobil to acquire from Eni a 25 percent indirect interest in the natural gas-rich Area 4 block, offshore Mozambique. Eni currently holds a 50 percent indirect share in the block through a 71.4 percent stake in Eni East Africa, which\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/02\/Area-4-coral-mamba-discoveries.png?fit=602%2C612&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/02\/Area-4-coral-mamba-discoveries.png?fit=602%2C612&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/02\/Area-4-coral-mamba-discoveries.png?fit=602%2C612&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":12366,"url":"https:\/\/www.oilnewskenya.com\/index.php\/mozambique-first-gas-introduced-to-coral-sul-flng-from-coral-south-field\/","url_meta":{"origin":6616,"position":1},"title":"MOZAMBIQUE: First Gas Introduced to Coral-Sul FLNG from Coral South Field","author":"","date":"June 23, 2022","format":false,"excerpt":"Italian energy major Eni has announced first gas to the Coral-Sul Floating Liquefied Natural Gas (FLNG) facility from the Coral South Field located in Area 4 of the Rovuma Basin offshore Mozambique. The development sparks a new era of hydrocarbon growth in the southern African country, with Mozambique now on\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/01\/Coral-FLNG.png?fit=720%2C405&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/01\/Coral-FLNG.png?fit=720%2C405&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/01\/Coral-FLNG.png?fit=720%2C405&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/01\/Coral-FLNG.png?fit=720%2C405&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":7095,"url":"https:\/\/www.oilnewskenya.com\/index.php\/7095-2\/","url_meta":{"origin":6616,"position":2},"title":"Mozambique Area 4 progressing Rovuma LNG marketing","author":"","date":"June 28, 2018","format":false,"excerpt":"ExxonMobil and Eni\u00a0have announced that marketing efforts are underway for the\u00a0Rovuma LNG project, which will produce, liquefy and sell natural gas from the gas fields of the\u00a0Area 4 block offshore Mozambique. Senior management representatives of the co-venture parties (ExxonMobil, Eni, CNODC, ENH, Kogas and Galp) met Wednesday during World Gas\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/11\/Mozambique-LNG-Park.jpg?fit=660%2C408&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/11\/Mozambique-LNG-Park.jpg?fit=660%2C408&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/11\/Mozambique-LNG-Park.jpg?fit=660%2C408&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":14470,"url":"https:\/\/www.oilnewskenya.com\/index.php\/mozambique-coral-sul-flng-achieves-5-million-tons-of-lng-production\/","url_meta":{"origin":6616,"position":3},"title":"MOZAMBIQUE: Coral Sul FLNG Achieves 5 million Tons of LNG production","author":"","date":"August 24, 2024","format":false,"excerpt":"Eni, as the Delegated Operator of Area 4, on behalf of its Area 4 partners namely ExxonMobil, CNPC, GALP, KOGAS and ENH, celebrates today the achievement of 5 million tons of LNG produced from the Coral Sul FLNG, located in the ultra-deep waters of the Rovuma Basin, offshore Mozambique. This\u2026","rel":"","context":"In \"Area 4\"","block_context":{"text":"Area 4","link":"https:\/\/www.oilnewskenya.com\/index.php\/tag\/area-4\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/02\/Coral-Sul-FLNG.jpg?fit=600%2C347&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/02\/Coral-Sul-FLNG.jpg?fit=600%2C347&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/02\/Coral-Sul-FLNG.jpg?fit=600%2C347&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":7113,"url":"https:\/\/www.oilnewskenya.com\/index.php\/eni-exxonmobil-submit-rovuma-lng-phase-1-development-plan\/","url_meta":{"origin":6616,"position":4},"title":"Eni, ExxonMobil Submit Rovuma LNG Phase 1 Development Plan","author":"","date":"July 9, 2018","format":false,"excerpt":"Mozambique Rovuma Venture has submitted the development plan to the government for the first phase of the Rovuma LNG project, which will produce, liquefy and market natural gas from the Mamba fields located in the Area 4 block offshore Mozambique. The plan details the proposed design and construction of two\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/11\/Mozambique-LNG-Park.jpg?fit=660%2C408&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/11\/Mozambique-LNG-Park.jpg?fit=660%2C408&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/11\/Mozambique-LNG-Park.jpg?fit=660%2C408&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":12808,"url":"https:\/\/www.oilnewskenya.com\/index.php\/mozambique-first-lng-cargo-departs-from-coral-sul-flng-offshore-the-rovuma-basin\/","url_meta":{"origin":6616,"position":5},"title":"MOZAMBIQUE: First LNG Cargo Departs from Coral Sul FLNG, Offshore the Rovuma basin","author":"","date":"November 14, 2022","format":false,"excerpt":"Eni, as Delegated Operator of the Coral South project on behalf of its Area 4 Partners (ExxonMobil, CNPC, GALP, KOGAS and ENH), informs that the first shipment of liquefied natural gas (LNG) produced from the Coral gas field, in the ultra-deep waters of the Rovuma Basin, has just departed from\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/01\/Coral-FLNG.png?fit=720%2C405&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/01\/Coral-FLNG.png?fit=720%2C405&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/01\/Coral-FLNG.png?fit=720%2C405&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/01\/Coral-FLNG.png?fit=720%2C405&ssl=1&resize=700%2C400 2x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/6616","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=6616"}],"version-history":[{"count":2,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/6616\/revisions"}],"predecessor-version":[{"id":6618,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/6616\/revisions\/6618"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/4403"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=6616"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=6616"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=6616"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}