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China National Petroleum Corp In Talks To Join Eni SpA Mozambique Gas Field-Reuters

Thursday, 7 Mar 2013 02:27pm EST 

Reuters reported that China National Petroleum Corp (CNPC) is in talks to buy a 10% to 20% stake in Eni SpA's giant Mozambique gas field according to an Italian government source, a deal that could be worth as much as $3.75 billion. Eni, the operator of the field with a 70% stake, has said it is looking to bring in partners to help fund the estimated $50 billion it will take to bring the African's offshore Area4 field to production. Officials with CNPC, parent of PetroChina were unavailable for comment. Eni declined to comment. 

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