Total South Africa has affirmed its commitment to developing Mozambique’s natural gas project.
This venture will begin after take-over from Anadarko Petroleum Corporation, which forms part of its expansion in Africa.
The Chief Executive Officer, Patrick Pouyanné, adds that the project has been estimated to cost as much as $23 billion to develop and will be Africa’s biggest single investment for the French firm.
Mozambique needs resources to adapt to extreme weather after two powerful cyclones in the same season this year.
Total is set to buy all of Anadarko’s assets in Africa including oil and gas projects in Ghana and Algeria.
In Uganda, Total is in talks with the government on a deal to purchase part of Tullow oil Plc’s stake in the Lake Albert oil project.
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