Videocon discovers natural gas in Mozambique

October 19th, 2010 - 6:55 pm ICT by IANS  

Mumbai, Oct 19 (IANS) Videocon Industries Monday said it has found natural gas in a exploration block in the Rovuma basin of Mozambique.

Videocon is exploring the basin as part of a consortium with Anadarko Petroleum Corporation.

“The Barquontine exploration well in the offshore Area 1 of Mozambique’s Rovuma basin encountered more than 308 net feet of pay in Oligocenc sands,” the company said in a statement.

According to the company, the well also found an additional 108 net feet of natural gas pay in the Paleocene sands. Earlier the company had discovered 75 net feet of pay at the Windjammer discovery, located southwest of the current discovery.

“With the Windjammer, and now Barquontine discoveries, the consortium has discovered a substantial natural gas resource. the consortium has begun designing an appraisal programme that will better delineate the Area l,” the statement said.

The company is a 10 percent stake holder in the consortium which is exploring Area-1 of the Rovuma basin through its fully owned subsidiary Videocon Mozambique Rovuma 1 Limited.

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