Extraction and processing of natural gas in the Mamba field in the Rovuma Basin Area 4 block in northern Mozambique is expected to begin by 2024, the chief executive of Italian group ENI said on Friday in Milan. Advertisements
The Nour-1 New Field Wildcat (NFW), which has led to the discovery, was drilled by the Scarabeo-9 semi-sub in a water depth of 295 meters and reached a total depth of 5,914 meters, Eni said on Thursday.
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The new discovery is estimated to contain between 450 and 650 million barrels of light oil in place with further upside, Eni said on Wednesday.
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Italian oil company Eni posted a 55 rise in adjusted net profit, reporting €1.46 billion in the fourth quarter of 2018, compared to adjusted net profit of 943 million euros in the corresponding quarter a year ago.
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Italian oil company ENI told Lusa on Monday that progress on the Rovuma basin project in Mozambique is on schedule and that the first export should take place in the second half of 2022.
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Eni has successfully launched a new production well in the Vandumbu field, about 350 km north-west of Luanda and 130 km west of Soyo, in the West Hub of Block 15/06, in Angola’s offshore.
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Gunshots rang out in the town of Palma, in the northern Mozambican province of Cabo Delgado on Monday morning, as the defence and security forces tried to disperse a demonstration calling for the suspension of the natural gas projects in the district.
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ozambique will have to wait until 2023 to achieve economic growth of 7.5%, a rate it was used to in the not too distant past, according to forecasts by the Economist Intelligence Unit (EIU).
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The impasse between the Mozambican government and oil companies’ Final Investment Decisions (DFI) on hydrocarbon explorations in the Rovuma Basin Area 4 continues. Decision-making was originally scheduled for the first quarter of 2019, but new developments could stretch the deadline to the third quarter.
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Saipem and Petrobel have negotiated an offshore contract addendum worth more than 1.2 billion USD for Engineering, Procurement, Construction and Installation (EPCI) activities in relation to the ‘Ramp Up to Plateau’ phase of the ‘supergiant’ Zohr Field Development Project situated in the Mediterranean Sea off the Egyptian coast.
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