Oil & Gas
EXXONMobil is targeting FID for its Rovuma LNG project in Mozambique by early 2026, while bp approaches the startup phase of the Greater Tortue Ahmeyim LNG development in Senegal and Mauritania
Global energy majors ExxonMobil and bp affirmed their commitment to oil and gas investment in Africa, expressing interest in forging new partnerships to capitalize on rising energy demand during keynote addresses at the African Energy Week: Invest in African Energies conference.
ExxonMobil is currently spearheading the Rovuma LNG project in Mozambique, which represents one of its largest investments in Africa and is anticipated to produce 18 MTPA of LNG. According to Frank Kretschmer, General Manager of ExxonMobil Mozambique, the company is targeting a final investment decision by early 2026.
“Rovuma LNG is a concept that is outstanding from a technology perspective, and will significantly reduce greenhouse gas emissions. The construction phase will boost local businesses, create thousands of jobs and promote local skill development,” said Kretschmer.
ExxonMobil estimates that 15 million BTUs per person per year are needed to ensure access to clean cooking, electricity and the elimination of energy poverty. Global gas demand is expected to rise by 20% by 2050, driven by population growth and economic development in emerging markets.
“All energy scenarios require a full suite of energy solutions. Delivering continued access to affordable energy and reducing emissions is the end equation. With our new low-carbon solutions, we are paving the way for a new carbon reduction industry,” said Kretschmer. “Our goal is to build a resilient, competitive upstream portfolio, and to do so, we will invest to scale.”
Meanwhile, bp’s investments center around the Greater Tortue Ahmeyim (GTA) project in Senegal and Mauritania, a groundbreaking offshore LNG development set to produce 2.3 MTPA over the next 20 years. The project is currently moving from the construction and commissioning phases to first operation, eyeing a successful start-up later this year. The GTA LNG project represents a significant engineering achievement, featuring an FPSO with an area the size of two football fields and one of the deepest subsea systems in the industry and on the continent.
“The GTA project is complex, but innovative and full of opportunity. We had two sets of regulations to harmonize, but with the support of our partners, governments and regulators, we are working together to find practical solutions,” said Dave Campbell, Senior Vice President at bp, Mauritania and Senegal. “We see first gas as the first step on a much longer journey. There’s no denying Africa’s importance in the energy system, both today and in the future.”
The GTA LNG development also serves as a key avenue for advancing local content, shaping the future of bp’s activities in the region.
“As we continue to build our relationships in Senegal and Mauritania, we focus on capacity building and finding the right opportunity to use local contractors. Today, we have 47 Mauritanian and Senegalese technicians participating in a bespoke four-year training program with bp, preparing them to be the next generation of engineers.”
A.I
Npv. 6, 2024
Tags: ExxonMobil
