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News updated at 2:22 AM IST

Videocon finds natural gas in Mozambique

Mumbai, April 22, 2013, (IANS): 17:00 IST
Videocon Industries Monday announced a significant natural gas discovery in its offshore Rovumal block in Mozambique.

"Videocon Industries advises that Anadarko Petroleum Corporation, operator of Rovumal block, offshore Mozambique, announced the discovery of a new natural gas accumulation within the Offshore Area 1 of the Rovuma Basin," the company said in a filing with the Bombay Stock Exchange (BSE).

The company through Videocon Hydrocarbon, a wholly owned subsidiary, has 10 percent interest in the offshore area-1 of the Rovumal block.

The Orca-1 discovery well encountered approximately 190 net feet (58 metres) of natural gas in a Paleocene fan system, while the accumulation was fully contained within the offshore area-1 of the Rovumal, the statement added.

The well was drilled to a total depth of approximately 4,996 metres, in water depths of approximately 1,061 metres.

Pradeep N. Dhoot, director of Global E&P Business of Videocon Hydrocarbon, said the success of the exploration well 'Orca’ in the Rovumal Basin, has further added to the vast hydrocarbon resources already established in the block.

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