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Videocon, Partners Discover Gas in Mozambique Block

  • Videocon Hydrocarbon Holdings Ltd. (VHHL), a unit of Videocon Industries Ltd., said on Tuesday that its partner Anadarko Petroleum Corporation has made another gas strike offshore Mozambique, its seventh gas well in the region.Venugopal Dhoot, chairman, Videocon Industries.The Lagosta-2 appraisal well, located about 7 kilometers north of the Lagosta-1 discovery and 8.5 kilometers south of the Camarao well, encountered 777 total net feet of natural gas in multiple zones, the company said in an exchange filing.“This is the largest pay count of any well in the complex to date… These excellent results continue to support our recoverable resource estimates of 15-30 trillion cubic feet of natural gas in the discovery area on our block,” Bob Daniels, Anadarko’s senior vice-president for worldwide exploration, said.

  • Videocon Mozambique Rovuma 1 Ltd, an overseas subsidiary of VHHL holds a 10% stake in the block in partnership with Anadarko Petroleum Mozambique Area 1 Lda, an affiliate of Anadarko, who is the operator of the 10,500 square kilometer gas block with a 36.5% stake.Other partners include Mitsui E&P Mozambique Area 1 Ltd.(20%), BPRL Ventures Mozambique B.V. (10%), Cove Energy Mozambique Rovuma Offshore Ltd. (8.5%) and Empresa Nacional de Hidrocarbonetos(15%).

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