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Rovuma Basin promissing to ENI with Mozambique Mamba discoveries

$50 billion estimated to develop giant Mamba gas field

In October 2011, the Italian National oil Company ENI announced a first giant discovery with the successful well appraisal in Namba South 1 within ENI’s concession Area 4, offshore Mozambique in the Rovuma Basin.

The Manba South 1 field is located in 1,585 meters depth, 40 km offshore the Cabo Delgado coast in the Northeastern part of the Mozambique Strait.

With 5000 meters total depth, Mamba South 1 was the first exploration well in the Area 4.

Mamba South 1 reserves are estimated around 15 trillion cubic feet (tcf) of high quality natural gas.

This giant discovery confirmed ENI‘s expectations about the promissing Rovuma Basin.

In February 2012, ENI published a second great discovery with another successful appraisal well in Mamba North 1, also in the Area 4.

Mamba North 1 gas field is located in 1,690 meters water depths approximately 23 Km north of Mamba South 1 in the Mozambique Strait, and 45 Km off the Capo Delgado coast.

With 5,330 meters total depth, the reserves of the Mamba North 1 are estimated of the same amount of 15 tcf of natural gas.

In May 2012, ENI made official its discovery at the Coral 1 field, again in the Area 4 of the Rovuma Basin.

Coral 1 is located 65 kilometers off the Capo Delgado coast in a water depth of 2,261 meters and 26 kilometers south east of the Mamba South 1 discovery.

With 4,869 meters total depth, ENI evaluated Coral 1 reserves between 7 and 10 tcf. 

In August 2012, ENI continues its successful appraisals with Mamba North East 2.

The Mamba North East 2 gas field is located by 1,994 meters of water depth and approximately 9 kilometers east of Mamba North East 1 and approximately 23 kilometers from Mamba South 1, 60 kilometers off the Capo Delgado coast within the Rovuma Basin.

With a total depth of 5,365 meters, ENI has estimated Mamba North East 2 reserves to 10 tcf of natural gas .

In doing so ENI performed five successful exploration wells in the Area 4 of the Rovuma Basin accumulating more than 70 tcf of natural gas.

After a first discovery last year, the Mamba fields in Mozambique have become ENI’s most valuable single project.

ENI to find new partners to develop Mamba discoveries

The working interests in the Area 4 of the Rovuma Basin are shared between:

 – ENI 70% , the operator

 – Galp Energia from Portugal 10%

 – Kogas of South Korea 10%

 – National Hydrocarbon Company (ENH), the National Oil Company (NOC) in Mozambique, 10%.

ENI is one of the largest foreign oil and gas producers in Africa and in the same time Africa represents some 55% of ENI‘s volumes, the highest proportion of any big oil major.

Even though ENI made strategic move in other parts of the world in Norway and in Russia in signing a strategic alliance with Rosneft to develop Arctic gas fields, ENI will remain heavily reliant on Africa and even more on Mozambique Area 4 gas field development.

The Mamba field in the Rovuma Basin of Mozambique is ENI‘s biggest natural gas discovery as operator and the total capital expenditure needed to develop these giant discoveries in the Area 4 may reach $50 billion.

With the actual 70% share of interest, ENI cannot take such gigantic development on its own and may have to accept additional partners to contribute to the efforts and share risks.

Since ENI has 33% stake in Portugal’s GALP, which has 10% of the Mamba gas field, ENI made a first step in putting for sell its 33% share in GALP.

Then the Rovuma Basin was the theater of a fierce battle between Shell and the Thai PTTEP to take over Cove Energy because of its 8.5% interests of the Area 1 of the Rovuma Basin in  partnership with Anadarko.

PTTEP won that battle in July, so we may suspect that Shell is now looking around for attractive opportunities to take a stake of this Rovuma Basin.

Anadarko estimated that the Golfinho field in the Area 1 of the Rovuma Basin could hold up to 45 tcf of natural gas reserves.

Whoever will be the companies, Shell, PTTEP, Kogas, GALP,  involved in these developments with Anadarko leading the Area 1 and ENI the Area 4, of the Rovuma Basin all these natural gas giant discoveries confirm the expectations to see East Africa (Kenya, Mozambique, Tanzania) to emerge as a major gas producer and liquefied natural gas (LNG) exporter in the coming years. 

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