LNG

Feb 9 (LNGJ) - Exxon Mobil Corp., one of the world’s largest LNG players, said it added 2.7 billion oil-equivalent barrels of proved oil and gas reserves in 2017, replacing 183 percent of production. ExxonMobil's proved reserves totaled 21.2 billion oil-equivalent barrels at year-end. “Significant new proved reserve additions were made in Guyana, where the company funded the first phase of development last year, and in Mozambique, associated with the project funding of the Coral FLNG project in the gas-rich deepwater Area 4,” said the US major. “In Mozambique, ExxonMobil acquired a 25 percent indirect interest in Area 4, which contains an estimated 85 trillion gross cubic feet of natural gas in-place,” it added.

ExxonMobil Corp. and Italian energy company Eni signed an agreement to enable the US major to acquire from Eni a 25 percent interest in the Area 4 block of the Rovuma Basin offshore Mozambique where LNG projects are planned for a cash price of around $2.8 billion.