Linklaters acted for Eni on its agreement to sell shares in Eni East Africa SpA equating to a 25% indirect participating interest in Area 4, offshore Mozambique. Eni will continue to hold further shares in Eni East Africa equating to a 25% indirect participating interest in Area 4. The Area 4 joint venture led by Eni has made a series of major gas discoveries offshore of Mozambique in recent years, and is currently progressing related LNG production projects including the Coral South floating LNG project. The transaction with ExxonMobil, which signed on 9 March 2017 has a base purchase price of approximately USD 2.8 billion.

The Linklaters team was led by Mark Russell (Partner, London) with support from Robert Mayo (Managing Associate, London)