Eni: Huge Natural Gas Find Off Mozambique 50% Larger

Posted October 27th, 2011 at 10:15 am (UTC-5)
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The Italian energy company Eni says a huge natural gas discovery off Mozambique is 50 percent larger than previously announced.

The Rome-based firm said Thursday that while it was deepening a well in the Mamba South exploration zone, workers found a new, separate pool of gas.

The company says it now expects to find up to 22.5 trillion cubic feet of natural gas in the Mamba South zone. The exploration area is located about 40 kilometers off the coast of Mozambique’s Cabo Delgado province.

Eni plans to do further drilling in the Mamba North exploration zone about 22 kilometers away.

In its initial announcement October 20, Eni said discovery will lead to massive projects that will boost Mozambique’s industrial and economic growth.

Mozambique is already one of Africa’s top natural gas exporters.

The southern African country has experienced economic growth in recent years, however many of its people remain poor. In September of last year, riots broke out when the government tried to increase prices for fuel, bread and electricity.