Eni and its partners China National Petroleum Corporation (CNPH), Empresa Nacional de Hidrocarbonetos (ENH), Korea Gas Corporation (KOGAS) and XRG have reached the Final Investment Decision (FID) to develop the Coral North deepwater FLNG project, offshore Cabo Delgado, north of Mozambique.
The project will put in production the gas volumes from the northern part of Area’s 4 Coral gas reservoir, in the Rovuma basin, through a state-of-the-art floating LNG facility.
The project will be implemented by the joint venture formed by Eni (50%), CNPC (20%), Kogas (10%), ENH (10%) and ADNOC’s subsidiary XRG (10%).
Coral North is Eni’s second development in Mozambique and the second large-scale FLNG delivered in ultra-deep waters worldwide, with Coral South being the first.
Leveraging the experience gained with Coral South, which has been in production since 2022, Coral North is expected to offer competitive advantages in terms of schedule, costs, performance optimization, and minimization of execution risks, aiming to deliver the project within schedule in 2028.
With a production liquefaction capacity of 3.6MTPA, the newly built Coral North FLNG - coupled with its predecessor Coral South - will bring Mozambique’s overall LNG production to exceeding 7MTPA, making the country the third-largest LNG producer in Africa and further reinforcing its role in the global energy scenario.
The project is expected to boost Mozambican economy as well as the competitiveness of the local industries, creating more new jobs and opportunities for national enterprises, significantly scaling up the impacts already generated by Coral South and the investments in local development projects.
“Coral North project leverages Eni’s unmatched exploration skills, our trademark fast-track and capital disciplined development capabilities, Mozambique’s vast gas resources and its strategic geographic position. With Coral North we will contribute to supply the worldwide growing demand for LNG, doubling both Mozambique's contribution to global energy security, and the benefits for the country and its citizens in terms of economic and industrial growth,” said Claudio Descalzi, Eni’s CEO.
Eni has been present in Mozambique since 2006. Between 2011 and 2014, the company discovered vast natural gas resources in the Rovuma Basin, in the Coral, Mamba Complex and Agulha reservoirs, with around 2,400 billion cubic meters of gas in place.
Coral South is the first project to produce gas from the Rovuma Basin.