A transaction by ExxonMobil Development Africa B.V. to acquire a 25% indirect interest in Mozambique’s gas-rich Area 4 block from Eni and assume responsibility for midstream operations has been completed, ExxonMobil Corp. (NYSE: XOM) said Dec. 13.

ExxonMobil will lead the construction and operation of all future natural gas liquefaction and related facilities, while Eni will continue to lead the Coral floating LNG project and all upstream operations. The operating model will enable the use of best practices and skills with each company focusing on distinct and clearly defined scopes while preserving the benefits of an integrated project.

The deepwater Area 4 block contains an estimated 85 trillion cubic feet of natural gas in place.

ExxonMobil now owns a 35.7% interest in Eni East Africa S.p.A. (to be renamed Mozambique Rovuma Venture S.p.A.), which holds a 70% interest in Area 4, and is co-owned with Eni (35.7%) and CNPC (28.6%). The remaining interests in Area 4 are held by Empresa Nacional de Hidrocarbonetos E.P. (10%), Kogas (10%) and Galp Energia (10%).

Offshore