Anadarko Petroleum Corp. (APC) on Friday announced that it has reached Heads of Agreement or HOA with Italian oil and gas company Eni S.p.A. (E). The deal establishes foundational principles for the coordinated development of the common natural gas reservoirs spanning both Mozambique's Offshore Area 1, which is operated by Anadarko, and Offshore Area 4, operated by Eni.
The company noted that the HOA is designed to facilitate a work program whereby the two operators will conduct separate, yet coordinated, offshore development activities, while jointly planning and constructing common onshore liquefaction facilities in the form of a liquefied natural gas or LNG park in the Cabo Delgado Province of northern Mozambique.
Anadarko President and CEO Al Walker, said, "Reaching an HOA with Eni is a significant step that preserves the project timeline. We expect the HOA to lead to a unitization agreement to further facilitate the efficient development of the common resources, as well as the independent reservoirs on both blocks, enabling enhanced economies of scale through shared infrastructure and facilities."
The company said it is working alongside the Mozambican government toward a shared target of first LNG cargoes in 2018.
The company also announced the awarding of multiple Front-End Engineering and Design or FEED contracts advancing the onshore and offshore components of this LNG project in northern Mozambique.
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