Bharat Petroleum, Videocon strike more gas off Mozambique

November 28th, 2011 - 5:12 pm ICT by IANS  

Mumbai, Nov 28 (IANS) A natural gas exploration project off the shore of Mozambique has revealed additional reserves, according to Bharat Petroleum Corporation (BPCL), which holds a stake in the venture along with Videocon.

“The Barquentine-3 appraisal well has encountered more than 202 net metres of natural gas. This significantly expands the estimated recoverable resource range - 15 to 30-plus trillion cubic feet of natural gas,” BPCL said Monday in a regulatory filing to the Bombay Stock Exchange (BSE).

According to the filing, the new discovery would add to the estimated reserve range of 30 to 50-plus trillion cubic feet of natural gas in place and this would be beneficial to the large-scale liquified natural gas (LNG) project which is under development.

The well is the sixth successful appraisal operation for the project. in which BPCL and Videocon have 10 percent stake each.

Related Stories

Tags: , , , , , , , , , , , , , ,

Posted in Business |

Subscribe