Eni's Latest Oil Strike Offshore Mozambique Adds 'At Least 10 Tcf'

Eni announced a new giant natural gas discovery in the eastern part of Area 4, offshore Mozambique, at the Mamba North East 2 exploration prospect. This is the fifth exploration well successfully drilled in the area.

The new discovery adds at least 10 trillion cubic feet (Tcf) of gas in place to Area 4, confirming at least 62 Tcf of gas in place already discovered. The resources exclusively located in Area 4 are at least 20 Tcf plus of gas in place.

This result further increases the total potential of the discoveries of Area 4, which is now estimated at 70 Tcf of gas in place.

Mamba North East 2, where Eni will conduct a production test, was drilled in 6,542 feet (1,994 meters) of water and reached total depth of 17,602 feet (5,365 meters). The well is located approximately 6 miles (9 kilometers) east of Mamba North East 1 and approximately 14 miles (23 kilometers) from Mamba South 1, 37 miles (60 kilometers) off the Capo Delgado coast.

The well encountered 656 feet (200 meters) of gas pay in stacked multiple high-quality Oligocene, Eocene and Paleocene sands. The discovery has proved the existence of hydraulic communication with the Oligocene reservoir in Mamba North East 1 and with those of the Eocene age in Mamba North East 1 and Mamba South 1, through a unique gas column of 1,509 feet (460 meters). Lastly, Mamba North East 2 has identified a new exploration play in the Paleocene located exclusively in Area 4.

Eni is the operator of Area 4 with a 70 percent participating interest. The other partners of the joint venture are GalpEnergia (10%), KOGAS (10%) and ENH (10%, carried through the exploration phase).

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