ExxonMobil has invested over $20 million in local content development in Mozambique since 2017 and plans to expand its investments in the local economy through upcoming projects. This was revealed by Armando Afonso, Public & Government Affairs Manager at ExxonMobil Mozambique, during the African Energy Chamber’s Invest in African Energies: Mozambique Roundtable held in Maputo on Thursday.
The event, co-organised by the African Energy Chamber and the Mozambique Energy Chamber, brought together international oil companies and industry stakeholders to discuss Mozambique’s investment potential.
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ExxonMobil’s commitment to local content
Speaking at the event, Afonso stated that the expanding opportunities within Mozambique’s oil and gas sector reinforce ExxonMobil’s commitment to local content investments.
“With the ramp-up of the Rovuma LNG project, our impact on local content will continue to grow, creating opportunities across the entire economy,” he said.
Afonso highlighted Mozambique’s strategic market access, the vast reserves in Area 4, and the low-emissions profile of the Rovuma LNG project as key factors in ExxonMobil’s continued engagement. He also pointed to the potential integration of renewable energy sources, including solar, wind, and hydrogen production, within the Area 4 project.
He further noted ExxonMobil’s initiatives to support local businesses, including a Primary Centre focused on training local small and medium-sized enterprises (SMEs) and a supplier portal that enables local businesses to register and partner with the company.
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Eni’s exploration and expansion plans
Valerio Parasiliti Parracello, Exploration Manager at Eni Mozambique, said the company currently operates six wells at the Coral South project but sees further opportunities for expansion.
“With Coral North and onshore projects, we see great potential to expand our portfolio and production in Mozambique,” he said.
The Coral South project, operated by Eni, marked Mozambique’s entry into global LNG markets when production began in 2022. The potential expansion of Coral North and onshore developments could further enhance Mozambique’s role as a major gas supplier.
TotalEnergies’ focus on rovuma basin gas reserves
Christelle Demars, Geoscience & Reservoir Manager for TotalEnergies’ Mozambique LNG Project, described the Rovuma Basin’s gas resources as a major attraction for the company.
“In just one area, we have 65 trillion cubic feet of gas, which will unlock enormous opportunities for Mozambique,” she stated.
TotalEnergies has committed to supplying gas to the local market as part of its agreement with the government and local content development strategy. The company is working on reviving its Mozambique LNG project, which had faced delays due to security challenges in the Cabo Delgado region.
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Mozambique’s role in global energy markets
Mozambique is emerging as a key player in global energy markets, with significant natural gas reserves and growing foreign investment in the sector. The country’s offshore gas fields in the Rovuma Basin have attracted major international oil companies, with projects such as Coral South, Mozambique LNG, and Rovuma LNG positioned to contribute to regional and global energy security.
The discussions at the Invest in African Energies: Mozambique Roundtable underscored the commitment of global energy firms to local content development and sustainable energy expansion in Mozambique. With ongoing investments and upcoming projects, the country’s energy sector is set to create opportunities across multiple industries, contributing to economic growth and job creation.
The event also highlighted the need for collaboration between industry stakeholders and the government to ensure the sustainable development of Mozambique’s natural resources while maximising benefits for the local economy.
Future prospects
With ExxonMobil, Eni, and TotalEnergies reaffirming their long-term commitment to Mozambique, the country’s energy sector is positioned for growth. As production ramps up and new projects come online, the focus remains on enhancing local content participation and ensuring the sector’s contribution to economic development.
The investment climate in Mozambique continues to evolve, with stakeholders recognising the country’s potential as a leading LNG producer. The discussions at the roundtable highlighted the steps being taken to strengthen the industry’s impact, creating new opportunities for businesses and communities alike.
