Mozambique sanctions deepwater Coral gas project

Offshore staff

SAN DONATO MILANESE, Italy – Mozambique’s government has approved Eni’s plan of development for the deepwater Coral gas discovery offshore Mozambique.

The Council of Ministers’ sanction relates to the first-phase development of 5 tcf of gas in the Area 4 permit.

Coral, in water depths of more than 2,000 m (6,562 ft), is roughly 80 km (49.7 mi) offshore from Palma bay in the northern province of Cabo Delgado.

Eni made the initial discovery in May 2012, followed by a successful delineation program in 2013. This demonstrated a high-quality field of Eocene age with strong productivity.

Coral contains an estimated 16 tcf of gas in place, all within Area 4.

The plan of development, the first to be approved in the Rovuma basin, calls for drilling and completion of six subsea wells and the construction and installation of a floating LNG facility, with a capacity of around 3.4 MMt/yr.

Last September this was also the first project in the basin to be granted an environmental license, following due diligence by local communities and national authorities.

In addition, Eni and its partners are pursuing development of gas reserves from the Mamba discovery, following a unitization agreement with the partners in Area 1.

Eni operates Area 4 win partnership with Galp Energia, KOGAS, and Empresa Nacional de Hidrocarbonetos. CNPC has a 20% indirect interest via Eni East Africa.

03/01/2016

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