The preferred share investment consists of an initial subscription of US$10 million, with up to a further US$15 million in future tranches of preferred shares subject to the continued growth and success of IWS.
TotalEnergies, and its co-venturers QatarEnergy and Petronas Petróleo Brasil have won the Agua Marinha block in the Open Acreage under Production Sharing Regime.
The move will improve communication and automation in workload distribution and increase the transparency of project-related risks and costs for the management team and wider stakeholders.
The partnership will provide training and competence management solutions for Mozambique’s domestic onshore and offshore developments.