An average capex of $3.0bn per year would be spent on eight oil and gas fields in Mozambique between 2018 and 2020. Capital expenditure into Mozambique\u2019s oil and gas projects, will add up to $9.1bn over the three-year period in upstream capital expenditure by 2020, according to leading data and analytics company GlobalData.<\/p>\n
Ultra-deepwater projects will be responsible for over 65 percent of $9.1bn of upstream capital expenditure in Mozambique, or $6.2bn by 2020, the \u00a0deepwater projects will account for 25 percent of upstream capital expenditure with $2.3bn by 2020, while onshore projects will necessitate $0.6bn in capital expenditure over the period.<\/p>\n
GlobalData expects that Eni SpA and Exxon Mobil Corporation will lead Mozambique in capital expenditure, each investing $1.4bn into the country\u2019s upstream projects by 2020. China National Petroleum Corporation will follow with $1.1bn investment into Mozambique\u2019s projects between 2018 and 2020.
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\nCoral South Project, a planned ultra-deepwater conventional gas field, will lead capital investment with $4.3bn to be spent between 2018 and 2020. Eni East Africa SpA is the operator for the field. Golfinho-Atum Complex, a deepwater conventional gas field in the Rovuma Basin, will follow next with a capex of $2.3bn. Anadarko Mozambique Area 1, Limitada is its operator. Gas from both projects will be marketed as liquefied natural gas (LNG).<\/p>\n
GlobalData reports the average remaining capital expenditure per barrel of oil equivalent (capex\/boe) for Mozambique projects at $6.0. Deepwater projects have the highest remaining capex\/boe at $6.8, followed by onshore and ultra\u2013deepwater projects with $5.9 and $5.8, respectively.<\/p>\n
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