• 14 hours Shell Oil Trading Head Steps Down After 29 Years
  • 18 hours Higher Oil Prices Reduce North American Oil Bankruptcies
  • 20 hours Statoil To Boost Exploration Drilling Offshore Norway In 2018
  • 21 hours $1.6 Billion Canadian-US Hydropower Project Approved
  • 23 hours Venezuela Officially In Default
  • 1 day Iran Prepares To Export LNG To Boost Trade Relations
  • 1 day Keystone Pipeline Leaks 5,000 Barrels Into Farmland
  • 1 day Saudi Oil Minister: Markets Will Not Rebalance By March
  • 2 days Obscure Dutch Firm Wins Venezuelan Oil Block As Debt Tensions Mount
  • 2 days Rosneft Announces Completion Of World’s Longest Well
  • 2 days Ecuador Won’t Ask Exemption From OPEC Oil Production Cuts
  • 2 days Norway’s $1 Trillion Wealth Fund Proposes To Ditch Oil Stocks
  • 2 days Ecuador Seeks To Clear Schlumberger Debt By End-November
  • 2 days Santos Admits It Rejected $7.2B Takeover Bid
  • 2 days U.S. Senate Panel Votes To Open Alaskan Refuge To Drilling
  • 3 days Africa’s Richest Woman Fired From Sonangol
  • 3 days Oil And Gas M&A Deal Appetite Highest Since 2013
  • 3 days Russian Hackers Target British Energy Industry
  • 3 days Venezuela Signs $3.15B Debt Restructuring Deal With Russia
  • 3 days DOJ: Protestors Interfering With Pipeline Construction Will Be Prosecuted
  • 3 days Lower Oil Prices Benefit European Refiners
  • 3 days World’s Biggest Private Equity Firm Raises $1 Billion To Invest In Oil
  • 4 days Oil Prices Tank After API Reports Strong Build In Crude Inventories
  • 4 days Iraq Oil Revenue Not Enough For Sustainable Development
  • 4 days Sudan In Talks With Foreign Oil Firms To Boost Crude Production
  • 4 days Shell: Four Oil Platforms Shut In Gulf Of Mexico After Fire
  • 4 days OPEC To Recruit New Members To Fight Market Imbalance
  • 4 days Green Groups Want Norway’s Arctic Oil Drilling Licenses Canceled
  • 4 days Venezuelan Oil Output Drops To Lowest In 28 Years
  • 5 days Shale Production Rises By 80,000 BPD In Latest EIA Forecasts
  • 5 days GE Considers Selling Baker Hughes Assets
  • 5 days Eni To Address Barents Sea Regulatory Breaches By Dec 11
  • 5 days Saudi Aramco To Invest $300 Billion In Upstream Projects
  • 5 days Aramco To List Shares In Hong Kong ‘For Sure’
  • 5 days BP CEO Sees Venezuela As Oil’s Wildcard
  • 5 days Iran Denies Involvement In Bahrain Oil Pipeline Blast
  • 8 days The Oil Rig Drilling 10 Miles Under The Sea
  • 8 days Baghdad Agrees To Ship Kirkuk Oil To Iran
  • 8 days Another Group Joins Niger Delta Avengers’ Ceasefire Boycott
  • 8 days Italy Looks To Phase Out Coal-Fired Electricity By 2025

Anadarko Announces Huge Natural Gas Discovery off the Coast of Mozambique

Anadarko Announces Huge Natural Gas Discovery off the Coast of Mozambique

Anadarko has just announced the discovery of a huge natural gas field off the coast of Mozambique. The US oil and gas exploration company made its first natural gas discovery in Mozambique in 2010, and has since grown to become one of the largest independent entities in the East African country’s natural gas sector.

The discovery was made at the offshore Orca-1 well in the Rovuma Basin, and plans are now being made to drill two more wells in order to evaluate the full potential of the Orca field.

Bob Daniels, the senior vice president of worldwide exploration for Anadarko, stated that, “discovering another large, distinct and separate natural gas accumulation in the Offshore Area 1 continues our outstanding exploration success offshore Mozambique.”

Related article: How to Play the Coming Rise in Natural Gas Prices

Natural gas is generally cooled to a liquid state, known as liquefied natural gas (LNG) and then exported on tankers to markets around the world. The plants required to process the gas into LNG cost billions to build, but Anadarko’s success at discovering huge fields in Mozambique could attract Big Oil companies who would have the cash to invest in such a plant. Mozambiques location in East Africa would then make it ideal for supplying the growing Asian market.

Anadarko is also drilling exploratory deepwater wells in Kenya, with initial data suggesting large amounts of petroleum.

By. Charles Kennedy of Oilprice.com

?


Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News