Eni closes financing for Coral South FLNG

Eni and its partners in Area 4 in the Rovuma basin offshore Mozambique have secured more than $4.675 billion for the Coral South floating LNG project.

Offshore staff

SAN DONATO MILANESE, Italy – Eni and its partners in Area 4 in the Rovuma basin offshore Mozambique have secured more than $4.675 billion for the Coral South floating LNG project.

This comprises covered loans from the BPI, KEXIM, Ksure, Sace and Sinosure export credit agencies; and direct loans from Commercial Bank and KEXIM.

Coral South, as the name implies, is designed to produce gas from the southern part of the Coral reservoir via a 3.4 MMt/yr FLNG plant.

Last year the partners agreed to sell 100% of the LNG production to BP. Earlier this year, ExxonMobil agreed to farm into 25% of the Area 4 joint venture.

12/12/2017

More in Field Development