Eni takes FID on extracting Angolan gas
Italy's Eni has taken a final investment decision (FID) on developing what will be Angola's first non-associated gas project, the company announced on July 28.
The Quiluma and Maboqueiro gas project will involve two offshore wellhead platforms, an onshore gas processing plant and a connecting pipeline to the Angola LNG terminal. Construction will begin this year, with a view to launching production in 2026. Output is set to plateau at 330mn ft3/day, or 4bn m3/yr.
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Eni operates the project with a 25.6% stake, while Chevron affiliate CABGOC has 31%, Angola's national oil company Sonangol has 19.8%, BP has 11.8% and TotalEnergies has 11.8%. The Italian major also holds a 13.6% interest in Angola LNG, while CABGOC has 36.4%, Sonangol has 22.8%, BP 13.6% and TotalEnergies 13.6%.
The Angola LNG plant was brought on stream in 2013, enabling its developers to monetise large amounts of associated gas at the offshore oilfields they were exploiting. It is capable of turning out 5.2mn metric tons/year of LNG at its single train.
The FID at Quiluma and Maboqueiro comes after Angola's parliament in late June passed a bill that cuts the tax rate on purchases of natural gas to support development of non-associated gas reserves.