Main oil-and-gas multinational ExxonMobil is progressing a number of power initiatives on the African continent, consolidating its standing as one of many drivers of the {industry} on the continent.
Current developments herald additional expansions of the strong ExxonMobil upstream pipeline to strengthen power safety by means of dependable, reasonably priced power provide whereas attaining industry-leading emissions depth.
The newest expression of this noticed ExxonMobil upstream president Liam Mallon meeting with Mozambican president Nyusi final month to substantiate ExxonMobil’s dedication to the $24 billion Rovuma LNG mission. Mallon confirmed front-end engineering design (FEED) for the mission and laid out a transparent path to a last funding determination by 2026.
Additionally within the Southern Africa area, Exxon Mobil has emerged as an exploration chief within the Namibe basin, offshore Angola, the place a wildcat properly has been spud and outcomes are keenly anticipated by your complete {industry}.
The basin extends from Angolan waters into northern Namibia, and beneficial, commercially viable outcomes may form power improvement within the area for many years to return.
In Nigeria, ExxonMobil is poised to shift focus to its deepwater investments, because the sale of its shallow-water JV asset reaches finality.
Nigeria’s wealthy reserves have been just lately estimated at 37.5 billion barrels by the Nigerian Upstream Petroleum Regulatory Fee (NUPRC). With offshore oil reserves at present chargeable for 32% of Nigeria’s manufacturing, ExxonMobil – with its core deepwater engineering strengths – is completely positioned to drive the subsequent improvement part for Africa’s largest oil reserves.
ExxonMobil is trying to broaden this broad engagement within the African upstream on the forthcoming AOW: Investing In African Vitality occasion, the place the corporate is a platinum sponsor.
“ExxonMobil is happy to be a platinum sponsor for AOW as they commemorate 30 years of convening the power {industry} for fruitful engagements and sharing of finest practices,” mentioned Richard Barke, ExxonMobil VP South Atlantic Exploration.”
The AOW partnership helps ExxonMobil’s function as one of many engines of the African upstream. AOW brings collectively governments, regulators, international operators, energy producers, traders and repair suppliers for engagements to develop coverage, share discoveries, safe funding, and form Africa’s power future.
Via strategic partnerships similar to these, in addition to its deepwater experience, and cutting-edge exploration in frontier areas, ExxonMobil has established itself as one of the crucial critically related power companies within the international sector.
As a part of the AOW partnership, Richard Barke, ExxonMobil’s Vice President of Exploration for Africa, will ship a keynote handle on the occasion, outlining the corporate’s strategic imaginative and prescient for the area.
“Africa’s power panorama presents a compelling mix of alternative and potential,” mentioned Barke. “We see important alignment between the continent’s sources and the world’s evolving power calls for.”
- Owned by Sankofa Events, AOW: Investing in African Vitality is Africa’s main oil, gasoline & power occasion, uniting {industry} leaders to develop coverage, share discoveries, safe funding, and form Africa’s power future. The occasion runs from 7 – 10 October 2024 on the CTICC 2, Cape City.