ExxonMobil to Buy into Area 4 as Mozambique Projects Advance

25 January 2017: ExxonMobil is expected to become operator of Mozambique’s giant Area 4, with a 25% stake in the 85-Tcf offshore block in a sale worth up to $3 billion. Exxon would acquire equity from ENI in a development expected to feed tens of millions of tons of new LNG production, beginning with a 3.4-MMt/y floating LNG (FLNG) project, Coral South, which is expected to hit final investment decision (FID) stage in the first quarter of 2017.

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