On 22 May 2024, ADNOC announced that it will acquire Galp’s entire shares and shareholder loans in its Mozambique subsidiary. At deal completion, Galp will receive US$650 million cash, net capital gains taxes and contingent payments of US$100 million and US$400 million that will be made when FID is taken on Coral North and Rovuma LNG respectively. The deal effective date is 31 December 2023.