ExxonMobil close to joining Mozambique gas venture

Eni expects to complete the divestment by year-end of a 25% stake in Area 4 offshore Mozambique to ExxonMobil.

The company is developing the Coral field in the concession via a floating LNG vessel.

In 2018, Eni expects to produce first gas from the giant Bahr Essalam field offshore Libya.

For the current year, the company anticipates average production of 1.815 MMboe/d matching its previous high in 2010.

This is due mainly to project start-ups offshore Indonesia, Angola and Ghana, and ramp-ups of fields which came on-stream last year, including offshore Egypt, Norway and in Kazakhstan.