Comment on below press release:This announcement by Eni S.p.A. should turn Mozambique into a major energy exporter for Southern Africa. This will be good news for investors in various new power station schemes being constructed to export power from Mozambique to South Africa and other members of the South African Power Pool. Currently, many of the countries in the region are suffering from power cuts due to insufficient investment by operators to keep pace with demand.
Eni announces a giant gas discovery offshore Mozambique
San Donato Milanese (Milan), 20 October 2011 - Eni announces a giant discovery at the Mamba South 1 prospect, in the Area 4 Offshore Mozambique. The discovery well encountered a total of 212 meters of continuous gas pay in high-quality Oligocene sands.
The Mamba South 1 discovery well is located in water depths of 1585 meters approximately 40 km off Cabo Delgado coast, in the Northern offshore of Mozambique. This is the first exploration well in Area 4. Results exceed pre-drill expectations and confirm the Rovuma Basin as a world-class natural gas province.
The well will be drilled to reach an expected total depth of around 5000 meters. After completion of drilling and testing activities, the rig will move to drill the second commitment well, Mamba North 1.
Eni considers that this impressive discovery can lead to at least 15 tcf of gas in place in the Mamba South Area where the potential of the Tertiary Play that exists in Area 4 will be further assessed under the present drilling.
The outstanding volume of natural gas discovered will lead to a large scale gas development with a combination of both export to regional and international markets through LNG and supply to the domestic market. This will support the industrial and economic growth of the Country.
The Mamba South discovery marks a new milestone for Eni since the resource potential assessed with the first exploration well makes it the largest operated discovery in the company's exploration history. The exploration success in Mozambique expands the leadership of Eni in Africa by opening a new eastern front of activities.
Eni is the operator of Offshore Area 4 with a 70-percent participating interest. Co-owners in the area are Galp Energia (10 percent), KOGAS (10 percent) and ENH (10 percent, carried through the exploration phase).
Company Contacts:
Press Office: Tel. +39.0252031875 begin_of_the_skype_highlighting +39.0252031875 end_of_the_skype_highlighting – +39.0659822030 begin_of_the_skype_highlighting +39.0659822030 end_of_the_skype_highlighting
Freephone for shareholders (from Italy): 800940924
Freephone for shareholders (from abroad): +39.800 11 22 34 56
Switchboard: +39-0659821 begin_of_the_skype_highlighting +39-0659821 end_of_the_skype_highlighting
ufficio.stampa@eni.com
segreteriasocietaria.azionisti@eni.com
investor.relations@eni.com
Web site:www.eni.com
San Donato Milanese (Milan), 20 October 2011 - Eni announces a giant discovery at the Mamba South 1 prospect, in the Area 4 Offshore Mozambique. The discovery well encountered a total of 212 meters of continuous gas pay in high-quality Oligocene sands.
The Mamba South 1 discovery well is located in water depths of 1585 meters approximately 40 km off Cabo Delgado coast, in the Northern offshore of Mozambique. This is the first exploration well in Area 4. Results exceed pre-drill expectations and confirm the Rovuma Basin as a world-class natural gas province.
The well will be drilled to reach an expected total depth of around 5000 meters. After completion of drilling and testing activities, the rig will move to drill the second commitment well, Mamba North 1.
Eni considers that this impressive discovery can lead to at least 15 tcf of gas in place in the Mamba South Area where the potential of the Tertiary Play that exists in Area 4 will be further assessed under the present drilling.
The outstanding volume of natural gas discovered will lead to a large scale gas development with a combination of both export to regional and international markets through LNG and supply to the domestic market. This will support the industrial and economic growth of the Country.
The Mamba South discovery marks a new milestone for Eni since the resource potential assessed with the first exploration well makes it the largest operated discovery in the company's exploration history. The exploration success in Mozambique expands the leadership of Eni in Africa by opening a new eastern front of activities.
Eni is the operator of Offshore Area 4 with a 70-percent participating interest. Co-owners in the area are Galp Energia (10 percent), KOGAS (10 percent) and ENH (10 percent, carried through the exploration phase).
Company Contacts:
Press Office: Tel. +39.0252031875 begin_of_the_skype_highlighting +39.0252031875 end_of_the_skype_highlighting – +39.0659822030 begin_of_the_skype_highlighting +39.0659822030 end_of_the_skype_highlighting
Freephone for shareholders (from Italy): 800940924
Freephone for shareholders (from abroad): +39.800 11 22 34 56
Switchboard: +39-0659821 begin_of_the_skype_highlighting +39-0659821 end_of_the_skype_highlighting
ufficio.stampa@eni.com
segreteriasocietaria.azionisti@eni.com
investor.relations@eni.com
Web site:www.eni.com
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