With a 20% stake, PetroChina is involved in the development of the FLNG project in Mozambique

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Eni and CNPC Make Final Investment Decision on Mozambique FLNG Project 2025-10-09 14:36:35 According to foreign media reports, Italy’s Eni Group, China National Petroleum Corporation (CNPC), Mozambique’s ENH, South Korea’s Kogas, and XRG, a subsidiary of Abu Dhabi National Oil Company (ADNOC), have made a final investment decision regarding the development of the Coral North FLNG project. This project is located in deep-sea waters off the coast of Cabo Delgado province in northern Mozambique. The signing ceremony was held on October 2 in Maputo, the capital of Mozambique, with Mozambique’s President Daniel Francisco Chapo in attendance. The project will exploit the natural gas reserves located in the northern part of the Kolol field in Block 4 of the Rovuma basin, through an advanced floating liquefied natural gas (FLNG) facility. The project will be carried out by a joint venture composed of Eni (50%), CNPC (20%), Korea National Oil Corporation (10%), Mozambique Petroleum Company (10%), and XRG, a subsidiary of Abu Dhabi National Oil Company (10%). The Colossal North project is Eni’s second development project in Mozambique, as well as the company’s second large-scale FLNG project delivered in ultra-deep water on a global scale; the Colossal South project, which began operations in 2022, was the first of such projects. Leveraging previous project experience, the Colore North project is on track for delivery by 2028. The FLNG facility of the Colossal North project has an annual liquefaction capacity of around 3.55 million tons. Once completed, it will, together with the Colossal South project, help raise Mozambique’s total liquefied natural gas production capacity to over 7 million tons per year, making the country the third-largest producer of liquefied natural gas in Africa. The investment in the Colore North project will exceed $7.2 billion, and it is expected to generate approximately $23 billion in fiscal revenue for Mozambique over the next 30 years. This project will boost Mozambique’s economy and the competitiveness of local industries, creating more job opportunities in the country. 、