Italian oil company bullish on prospects, citing its reserves, technological know-how, strong and committed team, track record and government support.
Analysts predict reserves may be as high as 450 billion cubic metres, making the country one of the world’s biggest exporters.
Highly lucrative project temporarily abandoned after Islamic State-linked violence left thousands dead; France’s TotalEnergies may return now situation has stabilised.
Fitch Solutions’ positive forecast tempered by continued insurgent activity in country’s north which ‘may delay development of natural gas sector’.
New platform would complement existing US$7 billion Coral-Sul operation, but company needs agreement from partners who include China National Petroleum.
Project, first of its kind in deep waters off Africa, expected to produce 3.4 million tonnes of natural gas annually, which will be sold to BP.
With a capacity of 3.4 million tons of liquefied gas per year, the FLNG unit will be used to produce gas from the Rovuma Basin’s Area 4.