Huge gas discovery off Mozambique

2012-08-01 16:25
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Mozambique flag (Shuttertstock)

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Johannesburg - Italian oil company Eni SpA has announced the discovery of more natural gas off the coast of Mozambique, expanding the yield of a major field off the southeast African nation.

Eni said on Wednesday that the field includes at least 10 trillion cubic feet of natural gas, increasing the total yield of the area to 70 trillion cubic feet.

The company said the drill site is 60km off the Capo Delgado coast. Eni has a 70% interest in the field, with Portuguese firm GalpEnergia, South Korea's KOGAS and ENH each having a 10% stake.

Natural gas exploration has increased in recent years in Africa, long a source for crude oil. Recent discoveries in Mozambique have made it a major regional source of liquefied natural gas.

Read more on:    mozambique  |  southern africa

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