French energy giant TotalEnergies is now not far from having everything ready to restart its work on natural gas exploration in northern Mozambique.
Chief executive officer, Patrick Pouyanné, made the announcement at the 2023 company results and projections for 2024 objectives presentation in London yesterday.
He said they had mobilised all the contractors and informed them of their intentions and the last part of its re-entry strategy which was re-financing of the project. This was interrupted due to terrorist activity in the area in 2021 and it was decided to suspend operations until it was safe to return.
Mozambique has three development projects approved to exploit the natural gas reserves in the Rovuma Basin off the coast of Cabo Delgado. They are classified as among the largest in the world.
TotalEnergies leads the largest project, referred to as Area 1 Consortium.