Eni and Anadarko set the unitization of Area 4 and 1 in the Rovuma Basin offshore Mozambique

San Donato Milanese (Milan), 3 December 2015 – Eni and Anadarko announce that, following the signing of the Unitization and Unit Operating Agreement (UUOA) and in full agreement with all the concessionaries of the projects, a unitization was set out for the development of natural gas reservoirs straddling Areas 4 and 1 in the Rovuma Basin, offshore Mozambique. Area 4 is operated by Eni East Africa while Area 1 is operated by Anadarko Mozambique Area 1 Ltd.

The agreement concerns the natural gas straddling reservoirs Mamba and Prosperidade, placed in Area 4 and 1 respectively and which intercommunicate across the blocks’ boundary. In accordance with the UUOA, the development of the straddling reservoirs will be carried out initially in a separated but coordinated way by the two Areas until 24 Tcf of natural gas reserves (12 Tcf of natural gas from each Area) will be reached. Future developments will be jointly pursued by Area 4 and Area 1 concessionaires through a joint operator, as the result of an equal joint venture between Eni East Africa and Anadarko Mozambique Area 1.

The UUOA, developed in close collaboration with the 11 concessionaires, represents a fair agreement for all parties involved in the two areas. The agreement is subject to final approval by the Government of Mozambique.

Eni is the operator of Area 4 with a 50% indirect interest owned through Eni East Africa (EEA), which holds 70% stake of Area 4. The other Concessionaires are Galp Energia, KOGAS and Empresa Nacional de Hidrocarbonetos (ENH) with a 10% stake each. CNPC owns a 20% indirect interest in Area 4 through Eni East Africa.

Anadarko is the operator in Area 1 with a 26.5% stake through Anadarko Mozambique Area 1 (AMA1). The other Concessionaires are ENH (15%), Mitsui E&P Mozambique Area 1 (20%), Beas Rovuma Energy Mozambique (10%), BPRL Ventures Mozambique (10%), ONGC Videsh (10%) and PTTEP Mozambique Area 1 (8.5%).

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