The Managing Director of Eni East Africa said the final investment decision on natural gas exploration in the Rovuma basin, in Mozambique, may still be taken this year, MacauHub reported.

Fabio Castiglioni,  during a meeting held in Palma, northern Mozambique, also said the approval last February of the development plan of the Coral Sul field in area 4 of the Rovuma basin, “was a key step in the progression towards the final investment decision of the project which, among other things, involves extraction of natural gas and liquefaction using a floating platform.”

The development plan was the first phase of gas exploration, as subsequent projects of the Coral field and the entire discovery, and its liquefaction will be subject to specific development plans to be approved in due course by the government.

However, last April, Eni’s Chief Finance Officer, Massimo Mondazzi, said it is ready to sell down stakes in fields it operates, such as the massive Area 4 gas field in Mozambique. As Reuters reported, the group could benefit from a partner in Mozambique that has the right skillset to help it develop the project.