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Eni hits 10 trillion cubic ft of additional gas reserves

LNG Industry,

The Italian company Eni has announced the discovery of 10 trillion ft3 of additional gas reserves offshore Mozambique. 8 of the 10 trillion ft3 discovered lay within the Area 4 exploration block.

The discovery was made on the eastern side of Area 4, bringing total estimated gas reserves for the block to 40 trillion ft3. The well, drilled in water 1848 m deep and with a total depth of 4560 m, is situated 50 km offshore Mozambique, approximately 15 km northeast of the Mamba South-1 discovery and 12 km southwest of the Mamba North-1 discovery.

The new discovery is made up of 240 m of gas play located in Oligocene and Eocene sands.

According to some, the find adds further incentive to conducting onshore LNG development. Significant discoveries in the neighbouring country of Tanzania have also acted as an incentive for onshore development in Mozambique.

Eni has plans for further drilling operations in 2012 in order to fully assess the capacity of the Mamba complex; four wells based in local structures are scheduled.

Eni has a 70% operating stake in Area 4. Galp Energia, KOGAS, and ENH each hold 10% stakes in the area.

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