March 21, 2017 / 6:21 PM / 4 months ago

Mozambique to get $350 mln in tax from Eni-Exxon deal

1 Min Read

MAPUTO, March 21 (Reuters) - Mozambique will get $350 million in capital gains tax from Eni after the Italian oil and gas company agreed to sell a stake in a gas field to Exxon Mobil Corp, senior tax official Anibal Mbalango said on Tuesday.

Exxon, the world's biggest publicly traded oil producer, agreed earlier this month to pay Eni $2.8 billion for a 25 percent stake in a Mozambican gas field.

Eni is currently the operator of Mozambique's Area 4 licence which, with 85 trillion cubic feet of gas, is one of the world's largest gas discoveries in recent years.

The deal offers Mozambique the chance to transform itself from one of the world's poorest countries into a global LNG exporter. (Reporting by Manuel Mucari; Writing by Olivia Kumwenda-Mtambo; Editing by Ruth Pitchford)

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