Xrg" It enhances its global presence by investing in liquefied natural gas projects in a field "Rovoma" In Mozambique

Abu Dhabi, March 28 / WAM / XRG announced the completion of the acquisition agreement on the share of the 10% Ghalib Company in the region’s concession 4 of the Rovoma Basin in Mozambique.

This acquisition, which was announced for the first time in May 2024, is the first investment for “XRG” in Mozambique, in line with the company’s efforts to build an integrated global business portfolio in the field of gas to meet the growing global demand for this vital resource and contribute to building a low -carbon and more intelligent and sustainable future in the energy sector.

The giant “Rovoma” field represents one of the largest gas discoveries in the world during the past fifteen years, and the acquisition allows the benefit of possible reserves with a total production capacity of more than 25 million metric tons annually, and the acquisition includes royal shares in the “Coral South floating station for the production of LNG” currently operating, and liquefied natural gas production plants “Coral North” floating And “Wild Rovoma”.

Khaled Salmeen, CEO of Operations at XRG, stressed on this occasion the importance of investing in developing the “Rovoma” global basin in Mozambique in a responsible and constructive manner, looking to cooperate with the Mozambique government, partners, and exchange experiences to create and enhance value and accelerate development processes to reach the maximum possibilities of liquefied natural gas production, pointing out that this important achievement will contribute to enhancing the ability of ‘XRG’ over the ability Providing energy solutions to meet the growing global demand and support sustainable economic growth.

The “Coral South” project for the production of natural natural gas is the first liquefied of its kind in African waters, and its production capacity reaches 3.5 million metric tons annually of liquefied natural gas, as it benefits from modern technology, and focuses heavily on improving energy efficiency.

As for the “Corrals” project, it is planned to produce an additional 3.5 million metric tons annually of liquefied natural gas from its marine operations, with the decision to take the “final investment decision” for the project, and “Eni” will manage these two maritime projects.

It is noteworthy that the expected production capacity for the first stage of the LNG wild gas station, run by the company “Exxon Mobil” and it is expected that the implementation of “theoretical and primary engineering designs” is expected to be completed in 2025, amounting to 18 million metric tons annually, and it is planned that the station will depend on its operation on an innovative normative model based on electricity to contribute significantly to reducing the density of carbon emissions From liquefied natural gas.

This acquisition contributes to enhancing the ambitious international business portfolio of “XRG” in the field of energy, as the company seeks to support sustainable economic growth, create and enhance long -term value by focusing on three growth platforms that include gas, chemicals, and low -carbon energy.

The long -term “XRG” strategy focuses mainly on liquefied natural gas, as the company recently carries out strategic acquisitions in the United States of America, Mozambique, Azerbaijan and Egypt.

• For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter