LiveMint: BPCL Partner Pegs Final Gas Resources in Mozambique Field at 75 Tcf

A natural gas bonanza off the eastern coast of Africa has become a rare source of cheer for three of India’s state-owned oil exploration companies buffeted by record low crude oil prices. The reason: Bright prospects in Mozambique, where the exploration arm of Bharat Petroleum Corp. Ltd (BPCL), ONGC Videsh Ltd (OVL) and Oil India Ltd (OIL) hold a majority stake in the Rovuma Area 1 basin. After completing the exploration programme, the field’s operator Anadarko Petroleum Corp. has pegged the final recoverable natural gas resource in the area at 75 trillion cubic feet (tcf).

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