Eni okays Coral FLNG development offshore Mozambique

Eni SPA's board has authorized investment for the first phase of development for the Coral discovery—the Coral South project—in the deepwater Rovuma basin offshore Mozambique, moving the project a step closer to a final investment decision.

The project involves the construction of 6 subsea wells connected to a floating LNG (FLNG) facility with a liquefaction capacity of 3.3 million tonnes/year, or 5 billion cu m. Mozambique authorities approved the project development plan in February (OGJ Online, Feb. 24, 2016).

Discovered in May 2012, Coral field is entirely within Area 4 and contains 450 bcm of gas in place. Eni and its Area 4 partners in October signed a 20-year agreement with BP PLC for the sale of all LNG volumes produced by Coral South FLNG.

Eni is operator of Area 4 with 50% indirect interest owned through subsidiary Eni East Africa (EEA), which holds 70% stake in Area 4. Other concessionaires are Galp Energia SGPS SA, Korea Gas Corp. (KOGAS), and Empresa Nacional de Hidrocarbonetos de Mocambique (ENH), each with 10%. China National Petroleum Corp. (CNPC) owns 20% indirect interest through Eni East Africa.

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