The United Arab Emirates has deepened its investment footprint in Africa’s oil and gas sector by entering Mozambique’s lucrative Rovuma Basin. XRG, the international energy investment arm of Abu Dhabi National Oil Company, acquired a 10% interest in the Area 4 concession, which includes stakes in the operational Coral South FLNG and the planned Coral North FLNG and Rovuma LNG projects.
This move is part of a broader trend that has seen the UAE emerge as Africa’s largest investor, surpassing even China, with investments from Emirati companies totaling $110 billion between 2019 and 2023. The UAE’s investments span key sectors including infrastructure, energy, and technology.
The UAE’s accelerated investments in Africa’s energy sector will be a focal point at the upcoming African Energy Week (AEW): Invest in African Energies 2025 in Cape Town, providing a platform for Emirati and Gulf investors to engage with key stakeholders.
Source: Oriental News Ng
