The two firms will jointly pursue opportunities worldwide for the agreement.
Under the terms of the agreement, Eni and KOGAS will facilitate the LNG development of Area 4 in Mozambique.
Eni is the operator of Area 4 with a 50% indirect interest owned through Eni East Africa, which holds 70% of Area 4 while other partners include GalpEnergia (10%), KOGAS (10%) and ENH (10%, carried through the exploration phase) and CNPC (20% indirect participation through Eni East Africa).
The resources are expected to be approximately 85 trillion cubic feet of gas in Area 4 and ready to enter in the development phase in 2015.
Till date, Eni and Kogas carried out five upstream projects in including Mozambique, Cyprus, Iraq, Indonesia and Timor Leste.
