US oil company ExxonMobil has announced that it has invested more than 20 million dollars in Mozambique since 2017 as part of its local content development strategy.

According to a Further AfricaExxonMobil plans to direct more investments into the national economy through future projects, as quoted by Armando Afonso, the company's director of Public and Government Affairs in Mozambique.

Speaking during a round table on "Investing in African Energies", organized by the African Energy Chamber and the Mozambican Energy Chamber, Armando Afonso stressed that the expansion of opportunities in the oil and gas sector are reinforcing ExxonMobil's commitment to investing in local content.

He pointed out that the vast reserves in Area 4, the country's privileged location, strategic access to the market and the low-emissions profile of the Rovuma LNG project are the main drivers of ExxonMobil's commitment.

"With the start-up of the Rovuma LNG project, our impact on local content will continue to grow, creating opportunities throughout the economy. Although we are not yet in production, we have already positioned ourselves as leaders in the field, especially after the creation of our Primary Center for the Training of Local Small and Medium Enterprises, as well as the existence of our supplier portal to allow companies to register and partner with us," he described.

For his part, Valerio Parasiliti Parracello, Eni's Exploration Director in Mozambique, stressed that although the company is currently producing from just six wells in the Coral Sul FLNG project, there are other significant opportunities for further expansion. "With Coral Norte and the onshore projects, we see great potential to expand our portfolio and production in the country," he said.

The Geosciences and Reservoirs manager of TotalEnergies' Mozambique LNG project, Christelle Demars, emphasized that the high-quality gas resources of the Rovuma basin are a major attraction for the company, pointing out that "in just one area, we have 65 trillion cubic feet, which will unlock huge investments."

(Photo DR)