Samsung Heavy Industries is reportedly on the cusp of clinching a major offshore contract worth approximately KRW 3.5 trillion (around USD 25 billion) in connection with Mozambique’s Coral Norte FLNG development. The Italian state-owned energy company Eni is expected to issue a Final Investment Decision (FID) this week, which would pave the way for the award.

Sources familiar with the deal say Samsung Heavy had earlier signed a large pre-works contract amounting to KRW 859.4 billion in July, in preparation for the main contract. That advance work deal is widely viewed as a de facto confirmation of Samsung Heavy’s position as front-runner.

The Coral Norte gas field sits in Area 4 of the Rovuma Basin in northern Mozambique. The main project targets annual LNG production of some 3.4 million tons, with output expected to begin in 2027. The overall project investment is estimated at USD 7.3 billion. Eni, ExxonMobil and China National Petroleum Corporation (CNPC) hold 70 % through the Rovuma Ventures joint venture, while Korea Gas Corporation, Portugal’s Galp Energia, and Mozambique’s national oil company ENH each hold 10 %.
Industry watchers note that the Coral Norte FLNG is expected to mirror the design of the earlier Coral Sul FLNG, allowing cost and time efficiencies by reusing prior specifications.

Samsung Heavy has already participated as part of a consortium in constructing Coral Sul, building on its strong track record in the global FLNG market. Globally, of the nine FLNG units ordered to date, Samsung is involved in five—reinforcing its competitive dominance in the sector.

Note: This article is based on original reporting by The Guru (South Korea). Information has been single-source verified.