HomeInternationalAnother gas deposit found off Mozambique

Another gas deposit found off Mozambique

Maputo, Mozambique — 16 May 2012 – Italian energy firm ENI has announced a new natural gas discovery of up to 10-trillion cubic feet off the Mozambican coast.

“This discovery is particularly significant since it confirms a new exploration play, which is independent of those drilled so far in previous of our Mamba wells,” ENI said in a statement here quoted by Fin24.

The new fields are located in the deep-water Rovuma basin off Mozambique’s Cabo Delgado coast, close to where American explorer Anadarko Petroleum announced finds twice as large yesterday.

The new deposits, at a depth of close to 5 000m below sea level, boosted the total ENI estimates of its Mamba fields to up to 52 trillion cubic feet, the company said.

ENI’s discovery brings natural gas finds so far by multi-national corporations in Mozambique’s Rovuma basin to over 80 trillion cubic feet, as the country emerges as a new natural gas frontier.

Mozambique lies at the southern tip of a fault line running along the east African coast to Somalia, forming a geologically inviting region for natural gas that has become the focus of an exploration boom in recent years.

Source: Fin24. For more information, click here.