Eni has signed a cooperation agreement with South Korea-based KOGAS to facilitate the development of Area 4 in Rovuma Basin offshore Mozambique
Eni said that Area 4 has 2.4bn cu/m of natural gas and the company is working on plans to develop the resource. The company is also planning to build a floating LNG plant. Eni has already awarded a front end engineering and design (FEED) contract for the LNG plant to USA-based KBR and ocean technology firm Daewoo Shipbuilding and Engineering.
Eni is the operator of Area 4 with 50 per cent holding. The other partners in the venture include China’s CNPC with 20 per cent stake. KOGAS, Galp Energia of Portugal and Mozambique’s National Hydrocarbon Company has 10 per cent stake each.
A company source said, “The cooperation agreement confirms the success of Eni and KOGAS’ partnership that so far has been involved in five upstream projects including Mozambique, Cyprus, Iraq, Indonesia and Timor Leste.”
