April 2, 2014 / 1:30 PM / in 4 years

Eni says Mozambique would welcome it selling stake in gas field

MILAN, April 2 (Reuters) - Italian oil and gas group Eni said on Wednesday 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. (Reporting by Stephen Jewkes; Editing by Oleg Vukmanovic)

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