Browsing: Saipem

Mozambique is entitled to draw on $317.2 million in guarantees posted by major oil and gas companies, who have failed to meet deadlines to drill exploration wells on blocks they were awarded in the country’s fifth auction round

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The French energy multinational TotalEnergies has declared force majeure on more contracts at its $20bn-plus liquefied natural gas (LNG) project in Cabo Delgado province, in the wake of ongoing terrorist activity near the project’s construction site, two sources have told Zitamar News

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Total is expecting at least a year’s delay at its $20bn Mozambique LNG project due to the escalating security crisis in the Cabo Delgado, Jean-Pierre Sbraire, chief financial officer at the French oil major said on Thursday

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