#Country Updates #Gas, LNG & Power #Mozambique #News

Oil firm Total invested US$250M in Mozambican companies to date

Oil firm Total invested US$250M in Mozambican companies to date

Total’s natural gas exploration project in northern Mozambique has meant about US$250M being invested in Mozambican companies, the French oil company said in a statement.

This amount is part of a total of US$1B spent with companies registered in Mozambique, in the works of the industrial complex and associated infrastructures in Afungi, Cabo Delgado province.

Investment in local content will continue to grow, as the construction phase of the enterprise is soon to resume. Natural gas explorationis expected to start exporting liquefied gas in 2024.

“Our focus, in partnership with the Mozambican Government, is to increase the competitiveness of local companies in order to maximize the opportunities for local participation”, said Thomas Rodriguez, Total’s Local Content manager, mentioned in the statement.

According to the oil company, business opportunities for 2021 will focus “on the supply of goods and services in the areas of health and safety at work, human resources, construction, maintenance, mechanics, catering, hospitality, management of camps, transportation and electrical equipment”.

Total also intends to develop training initiatives through a Business Development Program that “will be launched soon”, Rodriguez said.

The venture under construction in Afungi, Palma, is Africa’s largest private investment, which faces the threat of armed attacks raging in Cabo Delgado province for three years.

At the end of 2020, the attacks approached the perimeter of works, forcing Total to reduce the personnel until there is a reinforcement of security conditions – a topic that has been discussed with the Mozambican state.

However, despite the threats, the company has kept the 2024 deadline to start production.

Source: Furtherafrica

Leave a comment

Your email address will not be published. Required fields are marked *