Italian oil group ENI signed a cooperation agreement with the Korea Gas Corporation (Kogas) to strengthen cooperation in the Area 4 block in northern Mozambique, according to a statement released recently in Milan.
The group holds a 50 percent stake in the block, Kogas and Portugal’s Galp Energia and the Mozambican government’s Empresa Nacional de Hidrocarbonetos each ahve a 10 percent stake and the China National Petroleum Corporation (CNPC) the remaining 20 percent.
The deposits discovered to date in that block indicate the presence of 85 trillion cubic feet of natural gas and development is expected to begin in 2015.
Before this agreement was signed the two groups cooperated in oil projects in Cyprus, Iraq, Indonesia and Timor-Leste (East Timor).
Meanwhile, the KD consortium, which brings together US company KBR Inc. and South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) Co. Ltd., was hired by ENI East Africa, a subsidiary of the ENI Group, to build a platform for collection, processing, liquefaction and discharge of natural gas for the Coral Sul project in the Rovuma Basin, northern Mozambique.
The Coral Sul project is located 150 miles northeast of the city of Pemba and 30 miles off the coast of Mozambique. (macauhub/MZ)