Eni has been present in Mozambique since 2006, following the award of the exploration license relating to Area 4 offshore the Rovuma Basin block, located in the north of the country.
The Rovuma Basin represents a new frontier in oil and gas industry thanks to extraordinary gas discoveries made during intense only three-year exploration campaign. To date, resource base reached 85 Tcf located in the different sections of the area.
In addition, Eni operates the offshore exploration Block A-5A (Eni’s interest 70%), in the deep offshore of Zambesi.
In December 2017, Eni and ExxonMobil closed the sale of a 25% indirect interest in the Area 4 block, offshore Mozambique, through a sale of 35.7% stake in Eni East Africa (EEA). The agreed terms, based on the agreements of March 2017, include a cash price of approximately $2.8 billion plus the contractual adjustments up to the closing date, including the reimbursement to Eni of share of capex incurred from the beginning of 2016 up to the completion date.
Following completion of the transaction, Mozambique Rovuma Venture, former EEA, is co-owned by Eni and ExxonMobil with a 35.7% stake and the remaining interest of 28.6% by CNPC.
Eni continues to lead the Coral South FLNG project and all upstream operations in Area 4, while ExxonMobil leads the construction and operation of natural gas liquefaction facilities onshore. This operating model enables the use of best practices and skills within Eni and ExxonMobil with each company focusing on distinct and clearly defined scopes while preserving the benefits of a fully integrated project.
Development The Company is planning to develop as first target the Coral discovery and a portion of the Mamba straddling resources.
The development activities of the Coral South project provides for the installation of a floating unit for the treatment, liquefaction and storage of natural gas (FLNG) with a capacity of approximately 3.4 mmtonnes/y, fed by 6 subsea wells and start-up expected in the mid-2022.
During the 2017, the planned activities were started and the following agreements were signed:
- the drilling, construction, installation and commissioning contracts for the production facilities;
- project financing for the construction, installation and commissioning of the FLNG to cover 60% of investment. In December 2017, the financing agreement was closed and subscribed by 15 major international banks and guaranteed by 5 Export Credit agencies;
- agreements with the Mozambican government for the regulatory framework of the project.
Other development activities concerned the Mamba project according to its independent industrial plan, coordinated with the operator of Area 1 (Anadarko).
In the Cabo Delgado and Maputo areas, Eni engaged a significant program to support population, including access to energy, access to water, health and sanitation, as well as education and training activities.
Offices & contacts
Exploration & Production
Eni East Africa – Mozambique Branch
Edificio JAT-V block 3 1st – 4th floors
Rua dos desportistas n.918
Maputo - Mozambique
Phone: +258 21344500/1