Mozambique Reaffirms Commitment to Oil and Gas Growth at AEC Roundtable
Mozambique has reiterated its commitment to maximizing oil and gas exploration as a key driver of industrialization and economic growth. Speaking at the Invest in African Energies: Mozambique Roundtable in Maputo, Florival Mucave, Chairman of the Mozambique Energy Chamber, emphasized the country’s resolve to harness its energy resources for national development.
“Our model as a developing nation is to ‘Drill Baby Drill’ and maximize exploration and production to catalyze industrialization and economic growth,” Mucave stated. He highlighted that oil and gas investments are crucial for eradicating poverty and boosting economic opportunities in Mozambique.
NJ Ayuk, Executive Chairman of the African Energy Chamber (AEC), supported Mucave’s stance, calling for enhanced cooperation between the public and private sectors to ensure youth and women’s inclusion while fostering a pro-investment environment.
“Mozambique’s energy story is still being written, and it must be written here in Mozambique. We must get it right by prioritizing local content, avoiding resource nationalization, and strengthening partnerships with both global and local companies—they are not our adversaries,” Ayuk remarked.
He also pushed back against criticisms of fossil fuel development, arguing that Mozambique must fully utilize its natural resources. “When they tell you oil is bad, yet they continue to benefit from it, we must produce every drop to empower ourselves. Do not apologize for developing this God-given resource. The Chamber will continue to stand by you,” Ayuk added.
During the roundtable, Mozambique’s Petroleum Regulator Administrator, Milton Macuacua Zibane, announced that the country is accelerating the implementation of over $15 billion worth of planned oil and gas projects to generate local employment and drive economic expansion.
The AEC roundtable brought together key industry stakeholders to discuss Mozambique’s energy potential, investment opportunities, and strategies for sustainable growth in the oil and gas sector.
