• LNG Prime reported on 3 November 2026 that Eni and its Area 4 partners have started the drilling campaign for Coral North, Mozambique's second FLNG project.
• JPT reported that Coral North has 3.55 million tonnes a year of liquefaction capacity and first LNG is scheduled for the second quarter of 2028.
• JPT reported that combined with Coral South, which has produced since the fourth quarter of 2022, Eni's Mozambique output roughly doubles to over 7 million tonnes a year.
• Eni's final investment decision was signed on 2 October 2025, so drilling spends against an approved project; it is not a new commitment.
• The rig, the spud date and the number of Coral North wells were not confirmed in the sources reviewed. This is analysis, not advice, and nothing here is a trading call.

Eni and its Area 4 partners have started the drilling campaign for Coral North, the second floating LNG project in Mozambique, according to LNG Prime on 3 November 2026. It is the first upstream step after the project's investment decision, but it does not yet put gas on a ship. The rig, the start date and the well count were not confirmed in the sources reviewed. This piece is analysis, not trading advice.

What drilling does and does not prove

Drilling shows the partners are spending against a project that already has a final investment decision, signed on 2 October 2025 according to JPT and Eni's own announcement. It begins to test whether the reservoir can feed the vessel. It does not prove the FLNG will arrive on schedule or run at nameplate rate. Until Eni or its partners disclose well results, the subsurface risk is reduced only in the sense that work has begun.

Why 2028 is a target, not a delivery

JPT reported that first LNG from Coral North is scheduled for the second quarter of 2028. That is a project schedule, and it depends on wells being completed and tied back, and on the FLNG unit being delivered and commissioned. JPT also noted that the roughly $2.5 billion engineering, procurement and construction contract had not yet been formalized when it reported in October 2025, so readers should check current status.

What it adds to Mozambique's LNG position

JPT reported 3.55 million tonnes a year of liquefaction capacity for Coral North, and said that with Coral South, which has produced since the fourth quarter of 2022, output roughly doubles to over 7 million tonnes a year. These are reported design and company figures, not delivered volumes. JPT lists the partners as Eni at 50%, CNPC 20%, Kogas 10%, ENH 10% and XRG 10%.

What to watch next

The practical signals are the first disclosed well results, any change to the second-quarter 2028 schedule, and formal confirmation of the construction contract and commissioning milestones. Any price implication is distant, because no Coral North volume reaches the market before commissioning. Eni's own statements and partner disclosures are the primary sources to follow, and this analysis offers no trading view.