US supermajor ExxonMobil has finalised a long-awaited deal with Eni to take a major stake in Area 4 off Mozambique, an asset that holds about 85 trillion cubic feet of gas in place.
The US giant has paid Eni $2.8 billion in cash to secure a 25% interest in the deep-water asset, paving the way for development pushes on both the Coral South floating liquefied natural gas project and the much larger Mamba onshore LNG scheme.
