Leading oil-and-gas multinational ExxonMobil is progressing several energy initiatives on the African continent, consolidating its status as one of the drivers of the industry on the continent.
Recent developments herald further expansions of the robust ExxonMobil upstream pipeline to strengthen energy security through reliable, affordable energy supply while achieving industry-leading emissions intensity.
The latest expression of this saw ExxonMobil upstream President Liam Mallon meeting with Mozambican president Nyusi last month to confirm ExxonMobil’s commitment to the US$24 billion Rovuma LNG project. Mallon confirmed front-end engineering design (FEED) for the project and laid out a clear path to a final investment decision by 2026.
Also in the Southern Africa region, ExxonMobil has emerged as an exploration leader in the Namibe basin, offshore Angola, where a wildcat well has been spud and results are keenly anticipated by the entire industry.
The basin extends from Angolan waters into northern Namibia, and favourable, commercially viable results could shape energy development in the region for decades to come.
In Nigeria, ExxonMobil is poised to shift focus to its deepwater investments, as the sale of its shallow-water JV asset reaches finality.
Nigeria’s rich reserves were recently estimated at 37.5 billion bbls by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). With offshore oil reserves currently responsible for 32% of Nigeria’s production, ExxonMobil – with its core deepwater engineering strengths – is perfectly positioned to drive the next development phase for Africa’s largest oil reserves.
Read the article online at: https://www.oilfieldtechnology.com/exploration/02102024/exxonmobil-accelerates-african-energy-investments-and-frontier-exploration/