BPCL, Videocon Mozambique gas discoveries hold huge reserves
   
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BPCL, Videocon Mozambique gas discoveries hold huge reserves

Last Updated: Monday, June 11, 2012, 13:17
 
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BPCL, Videocon Mozambique gas discoveries hold huge reserves
New Delhi: State-owned Bharat Petroleum Corp Ltd (BPCL) and Videocon Industries' Mozambique gas discoveries may hold up to 100 trillion cubic feet of in-place reserves, the block operator said Monday.

US energy major Anadarko Petroleum Corp said the total estimated recoverable natural gas resource in Offshore Area 1 was between "30 and 60 Tcf, and the current upside for total gas in place for the discovered reservoirs on the block is approaching 100 Tcf".

Bharat PetroResources Ltd, a wholly owned subsidiary of BPCL, and Videocon Hydrocarbon Holdings Ltd, a wholly owned subsidiary of Videocon Industries, hold 10 percent stake each in Area?1.

Anadarko, which holds 36.5 percent interest in the block, plans to put up plants to liquefy the gas (liquefied natural gas or LNG) so that it can be shipped to consumption centres in cyrogenic ships. The two LNG trains will have the capacity to produce 5 million tonnes of liquid fuel each.

First gas exports from an initial train is expected in 2018 and the second train in 2010. A final investment decision is scheduled for late 2013, it said.

Anadarko said in a statement that its "Atum exploration well discovered another significant natural gas accumulation within the Offshore Area 1".

The Atum discovery well, which encountered more than 300 net feet (92 meters) of natural gas pay, is connected to the recent Golfinho discovery located approximately 16.5-km to the northwest in the Offshore Area 1.

"We estimate this new complex, which is located entirely within the Offshore Area 1 block, holds 10 to 30-plus Tcf of incremental recoverable natural gas resources," said Bob Daniels, Senior Vice President at Worldwide Exploration. "We plan to immediately commence a four-well appraisal programme of this complex, which has the potential to underpin a large LNG development."

The reserves are more than the 11 Tcf of resources in Reliance Industries' eastern offshore KG?D6 fields. RIL had in 2010 produced over 61 million standard cubic metres per day of gas from its KG?D6 gas discoveries before technical problems led to a drop in output. The output is enough to produce about 15 million tonnes of LNG per annum.

Anadarko estimates that there is sufficient gas in place in Area-1 for up to 10 LNG trains for a total of 50 million tons ayear of LNG capacity.

Cove Energy Mozambique Rovuma Offshore Ltd holds 8.5 percent interest in the block and Mitsui E&P Miozambique another 20 percent. The balance 15 percent is with Empressa Nacional de Hidrocarbonetos (EIH), the national oil company of Mozambique.

PTI



First Published: Monday, June 11, 2012, 13:17


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