Maputo, Mozambique — 04 September 2013 – After drilling the successful Agulha test well in Mozambique, Italian oil and gas giant ENI has found more natural gas in the Area 4 block of the Rovuma basin, in the north of the country.
According to a Mozambique National Oil Institute (INP) statement released here and cited by the Macauhub News Agency and other local media, preliminary results showed that the area where the Agulha well had been drilled might contain between 5 and 7 trillion cubic feet of natural gas.
The well is located in the south of Area 4, around 80km from the coast, and the aim of drilling it was to survey and test for hydrocarbons in a geological sequence that is older than that of the Mamba Complex.
The concession holders of Area 4 of the Rovuma basin are ENI East Africa, which is the operator and has a 41.43% stake after selling 28.57% to the China National Petroleum Corporation (CNPC), Mozambican state company Empresa Nacional de Hidrocarbonetos (ENH), with 28.57%, and Portugal’s Galp Energia and South Korea’s Kogas, each with 10%.
Last week, Mozambique’s Tributary Authority said that the Italian group had paid US$400 million in capital gains tax and had agreed to build a power station in the Palma district, of Cabo Delgado province, worth US$130 million, to have its deal with the Chinese group approved.
Source: Macauhub News Agency. For more information, click here.