Italy's Eni Seeks Rig for $7B Coral Norte Project

Italian energy major Eni is seeking a rig for drilling and well testing operations in the Coral Norte project, located offshore Mozambique in Area 4 of the Rovuma Basin. Eni has specific requirements for the rig, including a nominal water depth capacity of 3,000 meters, a minimum drilling depth of 5,500 meters, and the ability to operate effectively in challenging conditions. The project involves drilling four wells with a scheduled start-up in the third quarter of 2024. These wells will be linked to Eni's second Floating Liquefied Natural Gas (FLNG) facility, the $7 billion Coral Norte FLNG facility, pending government approval. Coral Norte aims for initial production in the second half of 2027 and follows Eni's first Rovuma FLNG facility, the Coral Sul FLNG project, which achieved its first Liquefied Natural Gas cargo delivery in August 2022. This project aligns with Eni's efforts to enhance the exploitation and profitability of Mozambique's natural gas resources.

Eni, headquartered in Italy, is an energy major, while the Coral Norte project represents a significant investment and expansion of its presence in the Mozambique natural gas sector.