Anadarko’s Mozambique Fields May Hold More Gas Than the U.K.

Business Week reported that Anadarko Petroleum Corp. (NYSE:APC) raised estimates of reserves at the offshore Mozambique fields after appraising the Camarao prospect.

As quoted in the market news:

The cumulative results of exploration have “substantially increased” the prospects of Offshore Area 1 of the deepwater Rovuma Basin, it said in a statement. The company is confident the Windjammer, Barquentine, Lagosta and Camarao complex holds at least 10 trillion cubic feet of gas. That would be more than the proven reserves of the U.K., according to BP Plc data.

“Our successful drilling program offshore Mozambique continues to expand the already world-class resource potential of this frontier basin,” Vice President Bob Daniels said in the statement. “We are optimistic that our current resource estimates will increase, as we still have significant exploration and appraisal work ahead of us.”

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