Saturday, 04 December 2021 11:23 GMT

Qatar Petroleum, Exxon aim giant Africa gas deal

(MENAFN) Exxon Mobil and Qatar Petroleum will join together for energy assets in Mozambique, which will buy shares in gas fields owned by Anadarko Petroleum Corp.

Moreover, Mozambique's discoveries have attracted oil firms from Europe, the US and China as the southern African country aims one of the world's largest gas projects.

Meanwhile, acquiring a share of Anadarko's Area 1 could produce capital gains tax of almost USD1.3bn for the Mozambique government.

Both sides would accelerate the realization of Mozambique's LNG export among a looming credit crunch, which is struggling to balance its books after USD1.4bn of hidden debt.

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