Britain's Cove Energy (COVE.L) said it is focused on the development of its huge gas finds in Mozambique as the perception of East Africa as a new hydrocarbon region gains momentum and attracts the interest of oil majors.

"In East Africa we have a classic situation where we've proved the petroleum system and the majors do want to come in but they're finding it difficult to get entry," Chief Executive John Craven told Reuters Global Energy and Climate Summit in London.

Plans for a liquid natural gas (LNG) facility to transport gas to Asian markets from offshore Mozambique are progressing, said Craven.

"We have already secured land for an LNG. We're planning at the moment two trains of LNG for the four discoveries we've made. If we find a lot more gas we can double those trains," he said.

Cove and its partners in the license, U.S. firm Anadarko (APC.N), Japan's Mitsui and India's Bharat Petroleum (BPCL.NS), have already seen substantial interest from potential buyers of the LNG, said Craven.

A dozen more exploration wells and up to nine appraisal wells will be drilled on the Mozambique block in the next two and a half years to help establish the size of the reserves.

Cove, an 8.5 percent shareholder in the license, sees itself selling its stake to a larger oil firm in the future so it can remain focused on exploration.

"We're expecting to sell it when create what we believe is a realistic value," said Craven, adding that for the time-being there was further exploration to do on the block and the company was fully-funded until the end of 2012.

"Don't rule oil out," Craven said of potential further discoveries which could be made on the block.

A well drilled by the partners last year found oil, the first evidence of oil in deep water offshore East Africa, but the oil was not commercial as it was in too tight a reservoir.

"I'm confident we'll find oil. What we need to be sure about is that we find it in a good reservoir," he said, adding the company expected to drill further oil prospects in the second quarter of 2012. Cove also has extensive exploration acreage off the coast of Kenya, some of which it shares with Anadarko and some of which with British gas firm BG Group (BG.L). Oil companies were currently circling Cove and Anadarko's license in Kenya, said Craven.

"The joint venture in Kenya operated by Anadarko is considering some approaches that have been made to farm-in. There's a lot of interest, some of them are quite generous so we have to at least look at them," he said.

"These are from very serious oil companies, they are big. Big oil are moving in."

By Reuters