Eni continues sucess in Mozambique

Feb. 26, 2013 at 5:49 AM

MILAN, Italy, Feb. 26 (UPI) -- A discovery off the coast of Mozambique confirms the area may hold as much as 75 trillion cubic feet of natural gas, Italian energy company Eni said.

Eni announced it confirmed the presence of natural gas in the Coral 3 well in the offshore Mamba complex.

The company said results from Coral 3, the eighth well drilled in the area, means the offshore area has a potential 75 trillion cubic feet of natural gas in place.

Coral 3 was drilled in more than 6,600 feet of water about 40 miles off the coast of Mozambique.

In December, Eni Chief Executive Officer Paolo Scaroni discussed exports options for liquefied natural gas with Mozambique President Armando Guebuza. The Italian company in 2012 posted a series of major natural discoveries offshore Mozambique.

The May discovery of at least 7 trillion cubic feet of gas was considered by Eni one of its largest ever.

The CIA World Factbook estimates that, as of January 2012, Mozambique ranked 52nd in the world in terms of proven natural gas reserves.

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