Italian oil developer ENI announced a bunch of new natural gas discoveries in the coast of Mozambique, in two wells it has drilled in the Block 4 concession. The finds took place at the sixth and seventh wells drilled by the company in the region, and may increase in some 170 billion cubic meters to what ENI has already found – which may be as high as 2 trillion cubic meters.
ENI first found gas in Mozambique last year, closely following a discovery by U.S. developer Anadarko. The two companies are now negotiating with the government on a development plan.