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Huge gas find reported in Mozambique

Nov. 29, 2011 at 6:50 AM   |   Comments

HOUSTON, Nov. 29 (UPI) -- U.S. energy company Anadarko Petroleum Corp. announced its latest natural gas discovery off the coast of Mozambique could be one of its biggest in decades.

Anadarko announced its Barquentine-3 appraisal well off the coast of Mozambique has at least 30 trillion cubic feet of natural gas in place, twice the size of the previous estimate.

Anadarko Chief Executive Officer Jim Hackett said the revised estimate made the gas find one of the most important his company has discovered in the last 10 years.

"This is great news for Mozambique, as our ongoing activities will continue to spur meaningful investment in the region, generate significant revenue for the government and offer a multitude of opportunities for the people of Mozambique," he said in a statement.

Anadarko added it was working on expanding the options for liquefied natural gas activity in the country.

The company said it was mobilizing a drillship to the area to accelerate activity off the coast of Mozambique.

The Barquentine-3 appraisal well was drilled in water depths of more than 5,000 feet.

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