Skip to main content

ONGC (India) estimates its gas reserves in Mozambique up to 2,000 bcm

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.



ONGC (India) estimates its gas reserves in Mozambique up to 2,000 bcm

Source: Anadarko