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Exxon to buy 25 pct stake in Mozambique gas project

March 9 Exxon Mobil Corp said on Thursday it would buy a 25 percent stake in a natural gas-rich block, offshore Mozambique, from Italy's Eni SpA for $2.8 billion in cash.

Eni, which operates the Area 4 block, holds a 50 percent indirect stake through Eni East Africa, which owns 70 percent of Area 4. (Reporting by Ahmed Farhatha in Bengaluru; Editing by Sai Sachin Ravikumar)

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