Eni raises Mozambique gas find estimates to 80 Tcf

4/25/2013

Eni raises Mozambique gas find estimates to 80 Tcf

BY LIAM MOLONEY

MILAN – Eni’s market value increased by 6.7% its natural gas finds estimates in offshore Mozambique after completing the appraisal phase.

In a statement, Eni said it drilled and tested the Mamba South 3 well and the results "exceeded" expectations allowing it to update its estimates for the Mamba Complex and Coral gas discoveries to 80 Tcf.

Eni said it is now finalizing the development plans of this huge resource base.

The company now plans to drill an exploration prospect, called Agulha 1, in the southern part of Area 4, where it is the operator, to assess the hydrocarbon potential of untested deeper parts.

Dow Jones Newswires

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