Eni makes 'giant' gas find in Mozambique

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MILAN, Italy, March 27 (UPI) -- Italian energy company Eni estimates there is at least 40 trillion cubic feet of natural gas in place off the coast of Mozambique.

Eni said it made a "new giant natural gas discovery" in a section of its Mamba North East 1 exploration prospect in the deep waters off the coast of Mozambique. That find, the company said, increases the resource base by at least 10 trillion cubic feet, 8 trillion of which are in so-called Area 4.

"This new discovery further improves the potential of the Mamba complex in Area 4 offshore Mozambique now estimated at at least 40 tcf of gas in place," the company said in a statement.

The company said it expects to drill at least four wells in the area to assess the potential of the offshore Mamba prospect.

ENI late last year described the prospect as the largest discovery in the company's exploration history.

ENI had said the discovery could lead to major developments in the natural gas sector in Mozambique. This includes access to regional and international markets through liquefied natural gas capacities.

ENI's discovery was made about 25 miles north of Mozambique.