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Bloomberg: Exxon weighs stakes in Eni and Anadarko blocks off Mozambique

Jun. 29, 2016 11:57 AM ETExxon Mobil Corporation (XOM) StockXOMBy: Carl Surran, SA News Editor
  • Exxon Mobil (XOM +1.5%) is considering buying stakes in natural gas discoveries off Mozambique made by Anadarko Petroleum and Eni, Bloomberg reports.
  • Acquiring a share of APC’s Area 1 in the Rovuma Basin off Mozambique’s north coast could generate ~$1.3B in capital gains tax for the government, which would help ease the country's credit crunch, according to the report.
  • XOM also is said to be interested in Eni’s Area 4; three years ago, China National Petroleum purchased 20% of Area 4 for $4.2B.
  • XOM last October won three exploration licenses for offshore blocks to the south of the APC and Eni Mozambique discoveries, and has a working interest in Statoil’s Block 2 in Tanzania, north of the Rovuma Basin.

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