Eni FLNG Win for Samsung Heavy Industries

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By MarEx 2017-06-02 19:22:57

South Korea's Samsung Heavy Industries has won a 2.8 trillion Korean Won contract to build the FLNG for Eni's Coral development in Mozambique. It will be the first FLNG in Africa.

The FLNG will have a length of 439 meters (1,440 feet), width of 65 meters (213 feet), depth of 38.5 meters (126 feet) and will weigh 210,000 tons. It is designed to produce three million tons of LNG and 480,000 tons of gas condensates (ultra-light oil) annually.

Samsung won the order as part of a consortium with France's Technip and Japan's JGC. The yard's involvement includes engineering, procurement and construction of the hull and production engineering and construction of topsides amounting to $2.5 billion.

This latest order for the yard further extends its order record for 2017 which include eight tankers, two LNG carriers, an FSRU, a FLNG and a FPU worth $4.8 billion in total.

The Coral South LNG project, for its size, quality of resources and geographical position, will transform Mozambique’s economy, says Eni. It is the first project in the development of the considerable gas resources discovered by Eni in Area 4 of the Rovuma Basin. 

The Coral field, discovered in May 2012, is located within Area 4 and contains approximately 450 billion cubic meters (16 TCF) of gas in place. In October 2016, Eni and its Area 4 partners signed an agreement with BP for the sale of the entire volumes of LNG produced by the Coral South project for a period of over 20 years.

Eni is the operator of Area 4, through its participation in Eni East Africa (EEA), which holds a 70 percent participating interest in the concession while Portugal’s Galp Energia, South Korea’s Kogas and Mozambique’s Empresa Nacional de Hidrocarbonetos (ENH), each hold 10 percent stake.