Name of the Project
Coral discovery (Coral South) development project.
Location
The discovery is located in the deep waters of the Rovuma basin (Area 4), off the coast of Mozambique.
Client
Eni is the operator of Area 4, with 50% indirect interest owned through Eni East Africa, which holds a 70% stake in Area 4.
The other concessionaires are Galp Energia, KOGAS and Empresa Nacional de Hidrocarbonetos, each owning a 10% stake. CNPC owns a 20% indirect interest in Area 4 through Eni East Africa.
Project Description
The discovery of the giant Coral South, made in May 2012 and outlined in 2013, proved the existence of a high-quality field of Eocenic age with excellent productivity. It is estimated to contain an estimated 450-billion cubic metres of gas in place, wholly located in Area 4.
The project involves the construction of six subsea wells connected to a floating liquefied natural gas facility, with a liquefaction capacity of more than 3.3-million tons of liquefied natural gas a year, equivalent to about five-billion cubic metres.
Jobs to be Created
Not stated.
Value
Not stated.
Duration
Mozambique authorities approved the project development plan in February.
Latest Developments
Eni’s board of directors has authorised the investment for the first-phase development of the Coral discovery. The approval of the investment is another fundamental step towards the final investment decision on the project, which will become effective once all Area 4 partners have approved it and the project financing, which is being finalised, has been underwritten.
Key Contracts and Suppliers
None stated.
On Budget and on Time?
Not stated.
Contact Details for Project Information
Eni, press office, tel +39 025 203 1875 or email investor.relations@eni.com.