Italy’s oil and gas major Eni SpA approved on Friday the investment plan for the first phase of development of the Coral gas discovery in deep waters offshore Mozambique, with the first-phase investment estimated at US$8 billion.

The Coral South project entails the construction of six subsea wells connected to a floating production facility FLNG (Floating Liquefied Natural Gas), with a liquefaction capacity of over 3.3 million tons of liquefied natural gas (LNG) per year, equivalent to around 5 billion cubic meters.

The whole Coral field, located in Area 4, is estimated to contain about 16 trillion cubic feet of gas in place, according to Eni.

OVERVIEW of Eni-Mozambique FLNG Project

2016.2     Mozambique   Approved the Project’s Development plan

2016.7     Samsung   expects FLNG order from Eni

2016.10   Eni Signed a 20-year deal with BP

2016.11   Eni approved investment