Anadarko Announces Another Mozambique Find

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Anadarko Petroleum, the Texas-based independent oil and natural gas producer, said its Tubarao well off the coast of the African nation of Mozambique made another significant gas discovery in the region, the fourth for Anadarko. The well, which encountered a gas-rich zone more than 110 feet long, was drilled to nearly 14,000 feet, including almost 3,000 feet of water, according to the Houston Chronicle.

Anadarko (APC) is the operator of a 2.6 million acre offshore exploration block in Mozambique with a 36.5% interest. Partners include Mitsui E&P Mozambique Area 1 Ltd, BPRL Ventures Mozambique BV, Videocon Mozambique Rovuma 1 Ltd and Cove Energy Mozambique Rovuma Offshore Ltd., Reuters reported.

Separately, Anadarko said it expects to drill an appraisal well in Brazil's Itaipu prospects toward the end of the second quarter, which is a bit later than previously expected. The company also announced plans to appraise a find in Brazil's Itauna prospect later this year.

Anadarko owns a 33.3% stake in Itaipu. Anadarko's El Merk project in Algeria is scheduled to start production towards the end the year, Dow Jones reported.