The Mozambican government said Exxon Mobil will finalise its investment in the country’s liquefied natural gas fields in a signing ceremony on Tuesday.
Exxon’s Rovuma LNG project, jointly operated with Italian firm Eni, will produce, liquefy and sell natural gas from three reservoirs located in the Area 4 block offshore Mozambique’s northern coast.
Exxon estimates the fields, which are due to come on line in 2024, will cost $30 billion to develop.
Projected output is pegged at 17,000 tons of liquefied petroleum gas per year during the production phase.
The gas fields are located off the coast of the northern Cabo Delgado province, which for the last two years has seen intensifying attacks on surrounding communities and government buildings by an extreme Islamist militant group.