Galp Energia Rovuma B.V. has sold its entire stake in the liquefied natural gas production project in Area 4 of the Rovuma Basin to ADNOC International Limited (ADNOC International), a subsidiary owned 100% by Abu Dhabi National Oil Company (ADNOC) PJSC (ADNOC PJSC).

The information was provided in a statement by the Competition Regulatory Authority (ARC), which said it had received a notification of an operation of concentration of companies above on May 27th.

"The concentration in question consists of the acquisition by ADNOC International Limited (ADNOC International), a 100% subsidiary of Abu Dhabi National Oil Company (ADNOC) PJSC (ADNOC PJSC), of sole control over Galp Energia Rovuma B.V. (Galp Energia Rovuma), currently held by Galp Energia, Portugal Holdings B.V. and Galp East Africa B.V. (jointly, the Sellers)," reads the statement.

Thus Galp Energia Rovuma's 10% in the Rovuma LNG Project passes to ADNOC International. The joint venture is co-owned by Eni, ExxonMobil and CNODC (70%), Empresa Nacional de Hidrocarbonetos E.P. (10%), KOGAS Moçambique Ltd. (10%).