Anadarko Announces Discovery Offshore Mozambique

abarrelfullabarrelfull wrote on 07 Feb 2011 12:23
Tags: africa anadarko gas mozambique offshore upstream


Anadarko Petroleum Corporation (NYSE: APC) today announced the latest in a string of major deepwater natural gas discoveries off the coast of Mozambique. The Tubarao discovery well encountered more than 110 net feet (34 meters) of natural gas pay and no water in a high-quality Eocene-age reservoir that is separate and distinct from the hydrocarbon accumulations in Anadarko's three previous discoveries in the Offshore Area 1 of the Rovuma Basin.

"The discovery at the Tubarao prospect opens an entirely new play style, which has additional opportunities in Mozambique's Offshore Area 1," Anadarko Sr. Vice President, Worldwide Exploration Bob Daniels said. "This is our fourth significant discovery in the offshore Rovuma Basin and further strengthens our confidence in our geologic and geophysical models of the basin. Our seismic imaging indicates Tubarao's areal extent could cover about 15,000 acres that will be better defined with appraisal drilling. In addition, we continue to safely enhance our drilling efficiencies, procedures and methodology in Mozambique, as we drilled this well in half the time of our first exploration wells."

The Tubarao discovery well was drilled to a total depth of approximately 13,900 feet (4,237 meters) in water depths of approximately 2,950 feet (898 meters), approximately 18 miles (29 kilometers) off the Mozambique coast. The partnership plans to preserve the wellbore at Tubarao for potential utilization in future testing. Once operations are complete, the partnership plans to mobilize the rig to the previously announced Windjammer discovery, approximately 26 miles (42 kilometers) northeast of Tubarao, to begin a coring program that will be followed by appraisal drilling in the Windjammer, Barquentine, Lagosta complex.

Anadarko is the operator of the 2.6-million-acre Offshore Area 1 with a 36.5-percent working interest. Co-owners in the area are Mitsui E&P Mozambique Area 1, Limited (20 percent), BPRL Ventures Mozambique B.V. (10 percent), Videocon Mozambique Rovuma 1 Limited (10 percent) and Cove Energy Mozambique Rovuma Offshore, Ltd. (8.5 percent). Empresa Nacional de Hidrocarbonetos, E.P.'s 15-percent interest is carried through the exploration phase.

A map of Anadarko's position in the Offshore Area 1 of the Rovuma Basin and the Tubarao discovery will be available under the "Media Center/Anadarko News" tab at www.anadarko.com.

Anadarko Petroleum Corporation's mission is to deliver a competitive and sustainable rate of return to shareholders by exploring for, acquiring and developing oil and natural gas resources vital to the world's health and welfare. As of year-end 2010, the company had approximately 2.42 billion barrels-equivalent of proved reserves, making it one of the world's largest independent exploration and production companies. For more information about Anadarko, please visit www.anadarko.com.


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