Continental Focus, International Reach

ENI Adds to Mozambican Bounty

Wednesday, March 28, 2012

ENI has added to the resource potential of its Area 4 concession offshore Mozambique with the drilling of the Mamba North East-1 exploration well. The company said that the results of this well, drilled in the eastern part of Area 4, are of special importance since they increase the resource base of Area 4 by at least 10 Tcf of which 8 Tcf of these are contained in reservoirs exclusively located in Area 4.

This new discovery further improves the potential of the Mamba complexin Area 4 offshore Mozambique now estimated to hold at least 40 tcf of gas in place, ENI said in a statement.

Mamba North East-1 was drilled in water depths of 1,848 meters and reached a total depth of 4,560 meters. The discovery well encountered a total of 240 meters of gas pay in multiple high-quality Oligocene and Eocene sands and proved reservoir continuity and pressure communication with the Mamba South-1 and Mamba North-1 wells.

During 2012 the Italian firm plans to drill at least another four wells in nearby structures to fully assess the upside potential of the Mamba Complex.

ENI is the operator of Area 4 with a 70% participating interest. Co-owners in the area are Galp Energia(10%), KOGAS (10%), and ENH (10%, carried through the exploration phase).