Global oil and gas giant ExxonMobil is advancing key energy initiatives across Africa, reinforcing its leadership in the continent’s energy sector.
In a recent development, ExxonMobil's upstream President, Liam Mallon, met with Mozambican President Nyusi to reaffirm the company’s commitment to the $24 billion Rovuma LNG project. Mallon confirmed that front-end engineering design (FEED) is underway, with a final investment decision expected by 2026.
These efforts are part of ExxonMobil’s broader strategy to enhance energy security in Africa while maintaining industry-leading emissions intensity.
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 favorable, 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.