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Eni may benefit from tech savvy partner in Mozambique LNG-CFO

Fri, 29th Apr 2016 11:15

MILAN, April 29 (Reuters) - Italian oil major ENI could benefit from an additional partner in developing its giantMozambique gas deposits, especially one with project-managementskills in running such complex ventures, a senior companyexecutive said on Friday.

"This contract is so big I guess we could take advantagefrom (having) a strong additional partner, not only strongerfrom a financial point of view but also (with) a capability torun such a complicated project," Eni Chief Financial OfficerMassimo Mondazzi said in a conference call.

Eni has been in talks to sell a stake in its Area 4 gasdevelopment off the coast of Mozambique, containing 85 trillioncubic feet of gas - one of the richest discoveries ever.

Area 4, in which Eni holds a 50 percent operating stake,will feed a series of onshore liquefied natural gas (LNG) exportplants, mainly supplying Asian markets.

Mondazzi's comment came in response to a question whetherEni would be willing to sell more than a 15-20 percent stake inits main Mamba project if it kept operatorship in the nearbyCoral development.

Reuters reported in March that ExxonMobil was intalks to buy a stake of varying potential sizes in Eni's Area 4development, including a full operating stake.

Eni has been in talks with several buyers including China'sHuadian Corp, sources have said.

Coral is a floating LNG export plant and all the supply hasalready been sold to British major BP. (Reporting by Stephen Jewkes and Oleg Vukmanovic)

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