Eni says Mozam­bique would wel­come it sell­ing stake in gas field

Daily Trust - - BUSINESS NEWS -

Ital­ian oil and gas group Eni said yes­ter­day the idea of it sell­ing a stake in its Area 4 gas acreage in Mozam­bique had been wel­comed by the coun­try’s pres­i­dent.

The com­ments came af­ter a meet­ing be­tween Eni CEO Paolo Sca­roni and the Pres­i­dent of the Repub­lic of Mozam­bique, Ar­mando Gue­buza.

“The pos­si­bil­ity of en­larg­ing the share­holder base of Area 4 was favourably re­ceived by the Pres­i­dent, as this would fur­ther strengthen the project,” Eni said in a state­ment on the meet­ing.

Sources told Reuters on Mon­day Eni had hired Bank of Amer­ica Mer­rill Lynch to ad­vise on the sale of a stake of about 15 per­cent in its Mozam­bique gas field which could raise up to $5 bil­lion.


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