ExxonMobil has committed over $20 million to social investments in Mozambique since 2017, focusing on local economic growth through upcoming projects. Strengthening this investment are the Rovuma LNG project and vast natural gas reserves, which attract other companies like Eni and TotalEnergies, highlighting the region’s energy potential.
ExxonMobil has invested more than $20 million in Mozambique as part of its social development strategy since 2017, with intentions to inject further funds into the local economy for new projects. Armando Afonso, ExxonMobil Mozambique’s Public & Government Affairs Manager, emphasized that the company’s commitment to socio-economic investments is deepening due to expanding opportunities in the country’s oil and gas sector.
During the Invest in African Energies: Mozambique Roundtable, Afonso outlined that Mozambique’s abundant reserves, strategic location, and the environmentally friendly profile of the Rovuma LNG project are pivotal factors in ExxonMobil’s sustained commitment. He also indicated that renewable energy integration could enhance the Area 4 project’s prospects, which includes solar, wind, and hydrogen production.
Afonso stated, “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 added that they have already established leadership in local content through initiatives like training local SMEs and a supplier portal for local businesses.
Valerio Parasiliti Parracello, Exploration Manager at Eni Mozambique, highlighted the potential for growth beyond the currently operational six wells at the Coral South project. He mentioned projects like Coral North and further onshore developments as areas with significant opportunity.
Christelle Demars, Geoscience & Reservoir Manager at TotalEnergies for the Mozambique LNG Project, noted the exceptional quality of gas resources in the Rovuma Basin. She stated, “In just one area, we have 65 trillion cubic feet of gas, which will unlock enormous opportunities for Mozambique,” emphasizing TotalEnergies’ commitment to local market gas supply and content development efforts.
ExxonMobil’s $20 million investment into Mozambique underscores its commitment to socioeconomic progress, particularly in local content and community training. With the Rovuma LNG project poised for expansion, collaboration with local businesses is expected to enhance economic opportunities. Other companies like Eni and TotalEnergies also recognize Mozambique’s vast potential, indicating a promising outlook for the region’s energy sector.
Original Source: energychamber.org
