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Eni: Made New Giant Gas Discovery Offshore Mozambique

Date : 02/15/2012 @ 2:19AM
Source : Dow Jones News
Stock : Galp Energia-Nom (GALP)
Quote : 12.53  0.085 (0.68%) @ 11:35AM
Galp Energia-Nom share price Chart

Eni: Made New Giant Gas Discovery Offshore Mozambique

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Eni SpA (E), Italy's largest energy company by market value, said Wednesday that it made a massive natural gas discovery offshore Mozambique with potential output of 212.5 billion cubic meters.

Eni said in a statement that it made the discovery at the Mamba North 1 prospect in Area 4, taking the potential of the Mamba complex to around 850 billion cubic meters.

Eni is the operator at Area 4, with a 70% stake, while GALP Energia SGPS (GALP.LB), Korea Gas Corp. (036460.SE) and ENH each own a 10% stake.

-By Liam Moloney, Dow Jones Newswires; +39 06 6976 6924; liam.moloney@dowjones.com



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