Videocon Industries and Bharat Petroleum Corp Ltd. (BPCL) have reported a fourth huge natural gas discovery in an offshore Mozambique block, where they hold 10 per cent stake each. Videocon Hydrocarbon Holdings, a wholly-owned subsidiary of Videocon Industries, and Bharat PetroResources, a unit of BPCL, said a new discovery had made in the offshore Area 1 of the Rovuma basin, the two firms said in almost identical but separate statements.

“The Orca-1 discovery well encountered about 190 net feet (58 meters) of natural gas pay in a Paleocene fan system,” they said.

U.S. energy firm Anadarko Petroleum Corp is the operator with 36.5 per cent stake in Mozambique’s offshore Area 1, which may hold as much as 70 Trillion cubic feet of gas resources.

Videocon and BPCL hold 10 per cent stake each in the block where Japan’s Mitsui & Co is the second-biggest stakeholder with a 20 per cent interest.

Thai state oil company PTT Exploration and Production PCL has an 8.5 per cent interest and Mozambique’s state-owned ENH 15 per cent.

“The Orca-1 exploration well was drilled to a total depth of about 16,391 feet, in water depths of 3,481 feet,” the statements said.

“Two major natural gas discoveries have so far been made in Offshore Area 1 of Mozambique’s Rovuma Basin. — PTI

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