ONGC Videsh Ltd. (OVL, the overseas subsidiary of Indian energy oil and gas company ONGC) estimates recoverable gas reserves at Rovuma Area-1 in Mozambique at 50 to 70 Tcf (1,415-1,980 bcm). These estimates are higher than those given in March 2014 by Anadarko, the operator of the block (45-70 Tcf) and those given in 2013, when OVL acquired interests in the field (35-65 Tcf). OVL owns a 16% stake in the gas field (10% acquired from Anadarko plus 10% from Videocon split in a 60:40 ratio, granting OVL a 16% stake in Rovuma Area-1), with Oil India Ltd (OIL) holding a 4% stake and Bharat Petroleum Corp. Ltd. (BPCL) holding 10%. Anadarko holds 26.5% after the deal with OVL and other partners in Area 1 include Mitsui with 20%, ENH (15%) and PTT Exploration and Production (8.5%).
Gas reserves at Rovuma Area-1 are expected to be used in a new gas liquefaction project, which would consist of four LNG trains with a capacity of 5 Mt/year each.
Source: Anadarko
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