ExxonMobil close to joining Mozambique gas venture

Eni expects to complete the divestment by year-end of a 25% stake in Area 4 offshore Mozambique to ExxonMobil.

Offshore staff

SAN DONATO MILANESE, Italy – Eni expects to complete the divestment by year-end of a 25% stake in Area 4 offshore Mozambique to ExxonMobil.

The company is developing theCoral field in the concession via a floating LNG vessel.

In 2018, Eni expects to produce first gas from the giantBahr Essalam field offshore Libya.

For the current year, the company anticipates average production of 1.815 MMboe/d matching its previous high in 2010.

This is due mainly to project start-ups offshore Indonesia, Angola and Ghana, and ramp-ups of fields that came onstream last year, including offshore Egypt, Norway, and in Kazakhstan.

10/30/2017

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