Eni East Africa (EEA) is the majority stake holder in Area 4 with 70% interest, while ENH, Kogas and Galp each own 10% stake in the project.

When ExxonMobil – EEA transaction completes, the economic interests in Area 4 will be 25% for each of Eni and ExxonMobil, 20% for CNPC, and 10% for each of Galp, ENH and Kogas.

Situated in the Southern part of the Coral discovery, the FLNG unit holds a capacity to produce 3.4 metric tonnes per annum (mtpa).

Technip, JGC, Samsung (TJS) consortium has also secured a contract from Area 4 to provide engineering, procurement, construction, installation and commissioning services for the FLNG unit.

In addition, the consortium has granted the upstream contracts for the drilling rig, umbilicals and subsea production systems for the development of the area.

Around $7bn will be invested for establishment of upstream and midstream activities at the project, which is expected to produce the first gas in 2022.

The consortium has also entered into a $5bn project financing package with a syndicate of ECAs and international financial institutions.

In October 2016, the consortium signed a 20-year deal with BP for the offtake of the volumes generated via Coral South FLNG.

Situated around 150 miles northeast of Pemba and 30 miles from the Mozambique coast, the Coral South development project is located in the deep waters of the Rovuma Basin.

The FLNG facility will be a turret moored double-hull floating vessel, on which gas receiving, processing, liquefaction, and offloading facilities will be assembled along with LNG and condensate storage.