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Mozambique has granted ExxonMobil the right to drill for oil and natural gas in the country’s central and northern regions. ExxonMobil will build the world’s biggest liquefaction units (outside Qatar). Under the new development plans approved by the government Exxon’s first two liquefaction units should start producing in 2024.
The Mozambican government and ExxonMobil have signed three concession contracts. ExxonMobil was granted these contracts as a result of the fifth oil and gas tender launched by the government in 2014. The right to undertake oil and gas exploration, development and production activities in the concession areas is granted for a maximum period of eight years.
The offshore reserves in Mozambique are big enough to supply Germany, Britain, France and Italy with gas for nearly two decades. Also, the proximity to fast-growing consumer markets in Asia makes this an interesting project for both ExxonMobil and Mozambique.