Portuguese energy group Galp Energia has approved the first phase of the development of the Coral discovery (Coral South project), located in the deep waters of the Rovuma Basin (Area 4), offshore Mozambique. In November 2016, Eni (50%, operator) also approved the project development. Galp Energia's approval is another milestone towards the Final Investment Decision on the project.
The Coral South FLNG project is developed by the Area 4 partners, namely Eni with 50%, CNPC with 20%, Galp Energia, Kogas and Empresa Nacional de Hidrocarbonetos (ENH) with 10% each. The Coral field, discovered in May 2012 and outlined in 2013, is entirely located within Area 4 and contains about 450 bcm (16 Tcf) of gas in place. The project includes the construction of 6 subsea wells connected to a floating LNG (FLNG) plant, able to produce more than 3.3 Mt/year of LNG. The Plan of Development was already approved by the Government of Mozambique in February 2016. LNG production could start as early as 2019 and the entire LNG production would be sold to BP over 20 years.
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