Eni scores more gas in Mamba Complex offshore Mozambique

Offshore staff

MILAN, Italy – Eni (MI:ENI;NYSE:E) has a new gas discovery offshore Mozambique in the Mamba Complex of Area 4. The Coral 3 delineation well confirms Area 4 potential of 27 tcf exclusively within Area 4, said Eni.

Coral 3 was drilled in 2,035 m (6,675 ft) of water and reached a TD of 5,270 m (17,286 ft). The well is approximately 5 km (3 mi) south of Coral 1, 15 km (9 mi) from Coral 2, and approximately 65 km (40 mi) off the Cabo Delgado coast.

The well encountered 117 m (384 ft) of gas pay in a high-quality Eocene reservoir and adds at least 4 tcf of gas in place to Area 4, said Eni.

The discovery proved the existence of hydraulic communication with the same reservoir of Coral 1 and Coral 2, and confirms the size of the Coral discovery that is now estimated to contain 13 tcf plus of gas in place wholly in Area 4.

Eni plans to drill another delineation well, Mamba South 3, to assess the potential of the Mamba Complex discoveries before returning to exploration drilling in the southern sector of Area 4.

Eni is the operator of Area 4 with a 70% participating interest. The other partners of the joint venture are Galp Energia (10%), KOGAS (10%), and ENH (10%), carried through the exploration phase).

2/25/2013

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