Eni ‘in talks with CNPC on Mozambique’

Eni chief executive officer Paolo Scaroni

Eni chief executive officer Paolo Scaroni

Kaia Means

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Eoin O'Cinneide ,

News Wires

 06 March 2013 16:50 GMT

Italy’s Eni is locked in talks with China National Petroleum Corporation (CNPC) over the proposed sale of a stake in a Mozambique gas project, according to a report.

The two oil companies have been discussing such a deal, which could be worth up to $4 billion, for at least six months, news wire Bloomberg reported, citing unidentified sources.

Eni may sell up to 20% of a gas block off the emerging East African hydrocarbons player, Bloomberg continued.

Eni declined to comment when contacted by Upstream.

Eni has had a large amount of success in Area 4 off Mozambique with numerous high-impact gas discoveries.

CNPC and listed arm PetroChina have been mooted as likely entrants into the Mozambique market: earlier this week the latter…

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