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San Donato Milanese (Milan), 18 November 2016 - Eni's Board of Directors has authorized the investment for the first phase of the development of the Coral discovery (Coral South project), located in the deep waters of the Rovuma Basin (Area 4), offshore Mozambique.
The project involves the construction of 6 subsea wells connected to a floating production facility FLNG (Floating Liquefied Natural Gas), with a liquefaction capacity of over 3.3 million tons of liquefied natural gas (LNG) per year, equivalent to approximately 5 billion cubic meters. Mozambique authorities approved the project development plan in February.
This project highlights Eni’s technological leadership in the development of deepwater gas fields via FLNG facilities.
The Coral field, discovered in May 2012 and outlined in 2013, is entirely located within Area 4 and contains about 450 billion cubic meters (16 TCF) of gas in place.
In October, Eni and its Area 4 partners signed an agreement with BP for the sale of the entire volumes of LNG produced by the FNLG Coral South, for a period of over twenty years. This was the first agreement ever signed in Mozambique for the sale of LNG produced in the country, and was the first significant step towards the development of the 2400 billion cubic meters (85 TCF) of gas discovered in Area 4.
The approval of this investment by Eni’s Board of Directors is another fundamental step towards the Final Investment Decision on the project, which will turn effective once all Area 4 partners have approved it and the project financing, which is currently being finalized, has been underwritten.
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EnergIA (ener'dʒia) is a system based on Generative Artificial Intelligence.
Thanks to this technology, we can respond to your requests by querying the most relevant content and documents available on eni.com. (Note: financial documents from the last 12 months and press releases from the last 2 years are considered.)
Through EnergIA, you can delve into topics of interest and have a real-time window into the world of Eni.
If you wish to search for a specific document, press release or news, use the traditional search engine via the magnifying glass icon.
Like all systems that leverage Generative Artificial Intelligence, EnergIA may generate inaccurate or outdated responses. Always consult the sources that EnergIA proposes as the origin of the generated information.
If the system fails to find an exact match for the requested content, it still tends to provide a response.
If you find any inaccuracies in the provided response, please send us your feedback at the bottom of the page: it will be very helpful for us to improve.
Remember that the content generated by the system does not represent Eni’s official position. We therefore invite stakeholders to refer to their designated contacts for official statements: Press Office for journalists, Investor Relations for analysts and investors, Company Secretariat for shareholders etc..
EnergIA can understand questions posed in almost all languages, but we prefer to provide you with a response in English or Italian, the two languages available on eni.com. If you ask a question in Italian, the content on the site in Italian will be consulted. If you ask it in English or any other language, the content in English will be consulted. (Note: the language Eni uses for financial documents/content is predominantly English.)
If questions are formulated that violate the set security criteria, the system will not proceed with processing the response. Please remember not to send personal data.
By using this service, the users acknowledge that they have read and accepted the terms and conditions of use.
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