New Finds Boost Anadarko’s Mozambique Advantage

As drill bits continue to hit gas in East African waters with exciting regularity, Anadarko Petroleum is fast laying claim to a first-mover advantage offshore Mozambique. Reserve estimates for the region as a whole, which also includes Tanzania, have climbed above the 100 Tcf mark. This is comparable in size to the prolific Carnarvon basin off Western Australia, where two LNG projects are operating and two more are under construction. In a development that is sure to enhance its maneuvering room, Anadarko’s new Atum-1 and Golfinho discoveries have opened up a separate structure in Area 1 that may contain sufficient reserves to launch a two-train project. This would avoid having to wait for the conclusion of unitization talks to combine the US firm’s Prosperidade fields with Eni’s adjoining Area 4 finds. Until now, most of Anadarko’s discoveries were in Prosperidade, which are thought to be in the same structure as the Mamba finds made by Eni in Area 4. It could also give Anadarko the upper hand in the contest for operatorship of the unitized fields and the LNG project, although the Italian firm has by no means conceded victory to its rival. Download here