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BPCL’s arm discovers new natural gas in Offshore Mozambique

Bharat Petroleum Corporation Ltd. | Refineries | Oil & Gas | BSE: 500547 | NSE: BPCL

11 Jun 2012 Evaluate

Bharat PetroResources (BPRL), a wholly owned subsidiary of Bharat Petroleum Corporation (BPCL), has informed that Anadarko Mocambique Area 1 Limitada, the Operator of exploration block in Rovuma Basin, Area 1, offshore Mozambique, has reported that Atum discovery well has encountered more than 300 net feet (92 meters) of natural gas pay in two high-quality Oligocene fan systems. This latest discovery is connected to the partnership’s recent Golfinho discovery located approximately 10 miles (16.5 kilometers) to the northwest in the Offshore Area 1.

The operator informed that the new complex, which is located entirely within the Offshore Area 1 block, holds 10 to 30-plus trillion cubic feet (Tcf) of incremental recoverable natural gas resources. With this latest discovery at Atum and a successful upcoming appraisal program, the total estimated recoverable natural gas resource in Mozambique’s Offshore Area 1 is between 30 and 60 Tcf.

The Atum exploration well was drilled to a total depth of about 12,665 feet (3,860 meters), in water depths of approximately 3,285 feet (1,000 meters). Once operations are complete at Atum, the partnership plans to commence appraisal activities that are expected to be followed by a drillstem testing program in the Golfinho and Atum complex.

Anadarko is the operator in the Offshore Area 1 with a 36.5-percent working interest. Co-owners include Mitsui E&P Mozambique Area 1 (20 percent), BPRL Ventures Mozambique B.V. (10 percent), Videocon Mozambique Rovuma 1 (10 percent) and Cove Energy Mozambique Rovuma Offshore (8.5 percent). Empresa Nacional de Hidrocarbonetos, ep’s 15-percent interest is carried through the exploration phase.

Earlier in May this year, BPRL informed that Anadarko Mocambique Area 1 Limitada, the Operator of exploration block in Rovuma Basin, Area 1, offshore Mozambique, had reported that the Golfinho discovery well encountered more than 59 net meters of natural gas pay in two-high quality Oligocene fan systems that are age-equivalent to, but geologically distinct from, the previous discoveries in the earlier announced Prosperidade complex.

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BPCL’s arm discovers new natural gas in Offshore Mozambique

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