Mozambique Rovuma Venture SpA

Mozambique Rovuma Venture SpA is rated 3 out of 5 in the category oil & energy. Read and write reviews about Mozambique Rovuma Venture SpA. Mozambique Rovuma Venture (MRV), formerly Eni East Africa, and Operator of the Area 4 Block Offshore Rovuma Basin since 2007, is an incorporated joint venture owned by Eni, ExxonMobil and CNPC. It holds a 70% participation interest in the Area 4 concession contract alongside its partners Galp, Kogas and Empresa Nacional de Hidrocarbonetos (ENH), each of which hold a 10% p.i. Between 2010 and 2014 various successful discoveries, estimated at 85 trillion cubic feet of gas resources, were made by the Area 4 Joint Venture in the deep waters the Rovuma Basin of the Cabo Delgado province of northern Mozambique. Area 4 is currently developing two parallel LNG megaprojects for the production and monetization of these resources, the Coral South Project – entirely offshore and the Rovuma LNG Project – located onshore which will create an unmatched opportunity for the country and for the local population. The Coral South Project, targets the production and monetization of the gas contained in the southern part of the Coral gas reservoir located in Area 4, that includes over 15 trillion cubic feet (tcf) of gas, by means of a floating LNG plant with a capacity of 3.4 MTPA - the Coral Sul FLNG. This project, which was sanctioned only three years after the drilling of the final exploration well in Area 4, is currently under execution and expected to start up in 2022. It will be the first Mozambican LNG project, the first new-built and deep-water FLNG in Africa representing a symbol of excellency in engineering and technology development and placing Mozambique on the World Map of LNG producers.