Galp confirms contingent payments regarding Mozambique Area 4 deal
Eni “within weeks” of sealing multi-billion dollar deal to sell stake in Mozambique gasfield – Financial Times
7:59 CAT | 01 Mar 2017
File photo / Claudio Descalzzi
Eni said on Wednesday it was “within weeks” of sealing a multibillion-dollar deal to sell a stake in its Mozambique operations, The Financial Times reports.
Claudio Descalzi, Eni chief executive, told the Financial Times the long-awaited transaction was “very close” but declined to comment on the identity of the buyer.
Meanwhile, US company ExxonMobil considered a favourite to buy the asset, declined to comment.
The sale is expected to be followed later this year by the final go-ahead for its multibillion-dollar Coral South field, the first part of the Area 4 block due for development.
Descalzi spoke to The Financial Times as Eni reported its first quarterly profit for 18 months.
Source: The Financial Times
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