GlobalData expects that an average capital expenditure (capex) of $3bn per year will be spent on eight oil and gas fields in Mozambique between 2018 and 2020. Capital expenditure on Mozambique’s oil and gas projects will add up to $9.1bn over the three-year period to the end of 2020.
Ultra-deepwater projects will be responsible for over 65% of upstream capex in Mozambique, or $6.2bn by 2020. Deepwater projects will account for 25% of upstream capex with $2.3bn by 2020, while onshore projects will require $600m in capex over the period.
Go deeper with GlobalData
GlobalData expects that Eni and Exxon Mobil will spend the most in Mozambique, each investing $1.4bn into the country’s upstream projects by 2020. China National Petroleum Corporation will follow with $1.1bn investment into its Mozambique projects between 2018 and 2020.
Top ten companies by upstream capex in Mozambique, 2018 – 2020
Source: GlobalData Upstream Analytics
Coral South Project, a planned ultra-deepwater conventional gas field, will lead capital investment with $4.3bn to be spent between 2018 and 2020. Eni East Africa is the operator for the field. Golfinho-Atum Complex, a deepwater conventional gas field in the Rovuma Basin, follows with a capex of $2.3bn. Anadarko Mozambique Area 1, Limitada is its operator. Gas from both projects will be marketed as liquefied natural gas.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataGlobalData reports the average remaining capex per barrel of oil equivalent (capex/boe) for Mozambique projects at $6. Deepwater projects have the highest remaining capex/boe at $6.80, followed by onshore and ultra–deepwater projects with $5.90 and $5.80 respectively.
