28 April 2024
Eni selling vast Mozambique gas field as part of new divestment strategy
Publication date: 02 March 2017
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Italian major Eni is close to selling a stake in a major Mozambique gas field as part of a new three-year plan to realise strategic asset divestments and cut capital expenditure.
CEO Claudio Descalzi said a farm-down of its Area-4 concession, in which it holds a 50% stake, is close. ExxonMobil is widely tipped to buy into the offshore block estimated to hold 85 Tcf of in-place gas.