Coral Norte will be a "copy" of the floating platform Coral Sul, and the final investment decision (FID) is expected to be formalised sometime in 2024 (AM 1469). Out of the six partners in the Area 4 consortium, ExxonMobil chose not to participate in the FLNG Coral Norte project, which never reached a consensus among the partners (AM 1456) despite the involvement of public funding from the U.S., opting instead to focus on midstream operations in Afungi, where it is the operator.
The competition for the selection of the consortium that will be responsible for the FEED (Front-End and Engineering Design) has already been launched, and it is expected to be completed within a period of 16 months, by the end of 2025. However, the decision of the American oil company did not affect the availability of funding from US Eximbank. READ MORE