Anadarko Petroleum Corp. said it has “substantially increased” its estimate for the amount of natural gas offshore fields in Mozambique may hold in the wake of additional exploration success there by a partnership it leads.
The Woodlands-based oil and gas company said an exploration well at its Camarao prospect encountered a 240 -foot-deep section of gas-rich rock in a deeply buried reservoir that shares geologic properties with earlier discoveries called Windjammer and Lagosta.
An additional 140-foot section of gassy rock was also found in shallower zones in the Camarao well that had not been discovered in previous wells in the region, Anadarko said.
The Camarao discovery well, located approximately 5 miles south of the original Windjammer discovery and 10 miles north of Lagosta, was drilled to a total depth of approximately 12,630 feet in water depths of approximately 4,730 feet, the company said.
“Our successful drilling program offshore Mozambique continues to expand the already world-class resource potential of this frontier basin,” Bob Daniels, Anadarko’s senior vice president of worldwide exploration, said in a statement.
“The results of our activity to date provide high confidence that the Windjammer, Barquentine, Lagosta and Camarao complex holds at least 10 trillion cubic feet of recoverable natural gas,” he said.
Anadarko said it is moving a second deepwater drillship to the area, known as the Rovuma Basin, to accelerate development.
With the added resource potential, the company said it is also expanding its plan to build gas-liquefaction infrastructure in Mozambique that will prep the gas to be exported by boat. It now sees the opportunity to build at least two five-million-ton-per-year “trains” and could add more later.
Anadarko is the operator of the 2.6-million-acre Offshore Area 1 with a 36.5-percent working interest. Partners include Mitsui E&P Mozambique Area 1, Limited, with a 20 percent stake; BPRL Ventures Mozambique B.V. , with a 10 percent interest; Videocon Mozambique Rovuma 1 Limited, also with 10 percent; and Cove Energy Mozambique Rovuma Offshore, Ltd., with 8.5 percent. Empresa Nacional de Hidrocarbonetos, E.P.’s 15-percent interest is carried through the exploration phase.
Anadarko’s stock price was up nearly 5 percent to $64.58 in morning trading on the New York Stock Exchange.