Eni has scheduled the start of drilling at the Coral North gas project in Mozambique's Rovuma Basin for early November 2026, with first gas targeted for 2028. The project carries a total investment of $7.2 billion and is designed to produce 3.6 million tonnes of LNG per year, a capacity addition that would meaningfully lift Mozambique's total LNG output once onstream.
Coral North follows the operational Coral Sul FLNG facility, Eni's flagship deepwater LNG development in the Rovuma Basin, and represents the next phase of monetising the basin's substantial gas reserves. The $7.2 billion capital commitment underscores the scale of infrastructure required, spanning subsurface drilling, a floating LNG production unit, and the associated subsea systems needed to tie wells into the processing vessel. With a 2026 spud date confirmed and a 2028 first-gas target, the project is now entering the phase where major procurement decisions and fabrication contracts would typically be awarded.
For Mozambique, Coral North is strategically significant. The country's LNG ambitions have been constrained by the security situation in Cabo Delgado, which forced TotalEnergies to declare force majeure on its onshore Mozambique LNG project in 2021 — a suspension that remains in place. Eni's offshore Coral developments, by contrast, have proceeded because the FLNG model removes the need for large onshore construction camps in the conflict-affected region. Adding 3.6 million tonnes per year through Coral North would substantially increase Mozambique's contribution to global LNG supply at a time when European and Asian buyers continue to prioritise long-term LNG supply security.
The 2026 drilling campaign marks a concrete milestone on the project timeline, and the 2028 first-gas target implies that FLNG vessel fabrication, subsea umbilicals, risers and flowlines, and associated infrastructure would need to be progressing in parallel. The scale of the investment and the offshore FLNG model point to significant demand for the full spectrum of deepwater service capabilities — from drilling contractors and well services providers to subsea installation vessels and FLNG hull fabricators.
