ExxonMobil accelerates African energy investments and frontier exploration

 

Leading oil-and-gas multinational ExxonMobil is progressing several energy initiatives on the African continent, consolidating its status as one of the drivers of the industry on the continent.

Recent developments herald further expansions of the robust ExxonMobil upstream pipeline to strengthen energy security through reliable, affordable energy supply while achieving industry-leading emissions intensity.

The latest expression of this saw ExxonMobil upstream president Liam Mallon meeting (http://apo-opa.co/3zRRkXk) with Mozambican president Nyusi last month to confirm ExxonMobil’s commitment to the $24 billion Rovuma LNG project. Mallon confirmed front-end engineering design (FEED) for the project and laid out a clear path to a final investment decision by 2026.

Also in the Southern Africa region, Exxon Mobil 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 favourable, 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 (http://apo-opa.co/3XQFkgO).

Nigeria’s rich reserves were recently estimated at 37.5 billion barrels (http://apo-opa.co/3XQ5bpn) 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 (http://apo-opa.co/3XJx3LL) oil reserves.

ExxonMobil is looking to expand this broad engagement in the African upstream at the forthcoming AOW: Investing In African Energy event, where the company is a platinum sponsor.  

“ExxonMobil is pleased to be a platinum sponsor for AOW as they commemorate 30 years of convening the energy industry for fruitful engagements and sharing of best practices,” said Richard Barke, ExxonMobil VP South Atlantic Exploration.”

The AOW partnership supports ExxonMobil’s role as one of the engines of the African upstream. AOW brings together governments, regulators, global operators, power producers, investors and service providers for engagements to develop policy, share discoveries, secure investment, and shape Africa’s energy future.

Through strategic partnerships such as these, as well as its deepwater expertise, and cutting-edge exploration in frontier regions, ExxonMobil has established itself as one of the most critically relevant energy businesses in the global sector.

As part of the AOW partnership, Richard Barke, ExxonMobil’s Vice President of Exploration for Africa, will deliver a keynote address at the event, outlining the company’s strategic vision for the region.

“Africa’s energy landscape presents a compelling blend of opportunity and potential,” said Barke. “We see significant alignment between the continent’s resources and the world’s evolving energy demands.”

Distributed by APO Group on behalf of AOW: Investing in African Energy.

Owned by Sankofa Events, AOW (http://apo-opa.co/3XLWWKH): Investing in African Energy is Africa’s leading oil, gas&energy event, uniting industry leaders to develop policy, share discoveries, secure investment, and shape Africa’s energy future. The event runs from 7 – 10 October 2024 at the CTICC 2, Cape Town.