U.S. oil producer Anadarko Petroleum Corp. (APC) said Thursday it had made a deepwater natural-gas discovery offshore Mozambique in a move that has the potential to open a new promising exploration frontier area for international producers: East Africa.
U.S. oil producer Anadarko Petroleum Corp. (APC) said Thursday it had made a deepwater natural-gas discovery offshore Mozambique in a move that has the potential to open a new promising exploration frontier area for international producers: East Africa.

Houston-based Anadarko said the Windjammer exploration well in the Rovuma Basin found more than 480 net feet of natural gas pay in high-quality reservoir sands. While the gas discovery isn't commercial given limited market, this well--the second deepwater exploration well drilled offshore east Africa--is much more important in reducing the risk of exploration in a massive block that is the size equivalent of 400 Gulf of Mexico blocks, said UBS analyst William Featherston in a note to clients.

"Located in a frontier basin, the well proved an active hydrocarbon system and encountered high quality reservoir, trap, and seal," William said.

Bob Daniels, Anadarko's senior vice-president for worldwide exploration, said in a statement that the gas discovery was "a strong indication of the potential" of the Rovuma Basin .

"The Windjammer discovery derisks a substantial portion of approximately 50 leads and prospects that we've identified across our 2.6-million-acre position in the basin," he said.

Anadarko's drilling success in Mozambique comes on the heels of a string of new oil discoveries the company has done in West Africa , an area where Anadarko was also a pioneer and that now has become an coveted region for major oil companies such as Exxon Mobil Corp. (XOM). The oil giant's $4 billion bid for Kosmos Energy LLC's stake in a giant oilfield in offshore Ghana , one of the world's most promising regions for oil exploration, is being met with stiff resistance from that country's government.

Anadarko, which has a 43% interest in the well and acts as operator, said the Windjammer well hasn't yet reached its final depth. After drilling finishes, the company plans to move its rig to the Collier prospect, less than 50 miles away.

"Anadarko also expects to drill two to four additional exploration wells in the Rovuma Basin this year, with initial well results from Windjammer and Collier determining which prospects are drilled next," the company said.

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