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Tuesday, Sep 3
Eni-led gas project finds more reserves off Mozambique
- A group of natural gas developers led by Italian oil producer Eni (E) finds additional gas reserves of 5T-7T cf of natural gas in the Agulha block off Mozambique.
- Ten wells have been drilled back to back in the block with a 100% exploration success rate for operater Eni, which holds a 50% interest having recently farmed out a 20% stake to China National Petroleum (PTR).
- Eni says the latest find “opens a new exploration play in the southern part of Area 4,” where it is now targeting three further wells in 2014 to test additional prospectivity.