Eni signed a cooperation agreement with Kogas to further strengthen their relationship in the upstream and LNG sectors.
Eni and Kogas expect the cooperation agreement to facilitate the LNG development of Area 4 in Mozambique where Eni is operator with a 50% indirect interest, Kogas, Galp Energia and ENH partners in the agreement with 10% interest each and CNPC with 20% indirect participation.
Area 4’s total resources are estimated to be approximately 85 trillion cubic feet of gas in place and ready to enter in the development phase in 2015.
“ The cooperation agreement confirms the success of Eni and Kogas ’s partnership that so far has been involved in 5 upstream projects including Mozambique, Cyprus, Iraq, Indonesia and Timor Leste, ” Eni said in a statement.