Mozambique: Eni approves Coral South investment

Eni’s board of directors has approved the investment for the first phase development of the Coral gas discovery in Area 4 of the Rovuma Basin. The approval is a key step towards the final investment decision (FID) on the Coral South project, which will become effective once all the Area 4 partners have approved it and the project financing, which is being finalised, has been agreed. The project involves the construction of six subsea wells connected to a floating production facility with a liquefaction capacity of over 3.3m t/yr of liquefied natural gas (LNG), equivalent to 5bcm.