ExxonMobil Corp. and Qatar Petroleum are currently considering the procurement of interests in gas fields owned by Anadarko Petroleum Corp. and Eni SpA, in Mozambique.

According to sources, no final agreement has been reached.

Discoveries in the Rovuma Basin off the northern coast of Mozambique have attracted international oil companies as the country plans one of the world’s biggest liquefied natural gas projects.

Investment from Exxon and Qatar Petroleum, would produce the much required finance for development, including a tax bonus to the country which has been battling with debts.

Anadarko operate the Area 1 while Eni is in Area 4 of the Rovuma Basin. Both companies intend to export the gas from the fields as LNG, although no final investment decision has been made.

In May, Eni announced that it was in negotiations to sell a stake in its discovery and anticipates a decision on its LNG project this year.

ExxonMobil is also active in Mozambique following the acquisition of three offshore exploration licences in October for blocks, south of the Anadarko and Eni’s discoveries. Exxon also has a working interest in Statoil ASA’s Block 2 in Tanzania, north of the Rovuma Basin.

As a matter of fact, Exxon and Qatar’s decision to invest would possibly speed up the achievement of Mozambique’s LNG export goals as the country has been making efforts to repay its arrears which were at $1.4 billion in April, making the World Bank and other donors postpone their aid.

Purchasing a share of Anadarko’s Area 1 could earn the government a capital gains tax of around $1.3 billion, the source said adding that ExxonMobil is also interested in Eni’s Area 4, Energy Voice reports.

Anita Fatunji