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(Reuters; June 11) - Anadarko Petroleum said June 11 it has found a significant gas accumulation off the coast of Mozambique, marking the latest oil and gas find made by Western companies in East Africa waters. Major oil companies have earlier announced finds of huge additional quantities of gas off the coast of Mozambique and Tanzania, cementing the future of East Africa as a major new supplier exporting LNG to energy-hungry Asia.

Anadarko said the successful Atum exploration well lies within Offshore Area 1 of the Rovuma Basin. The well was drilled to a depth of about 12,665 feet and encountered more than 300 net feet of natural gas pay. "We believe the total estimated recoverable natural gas resource in Mozambique's Offshore Area 1 is between 30 trillion and 60 trillion cubic feet, and the current upside for total gas in place for the discovered reservoirs on the block is approaching 100 tcf," Anadarko CEO Al Walker said.

Anadarko and its partners will focus on getting the reserves certified, with a final investment decision in 2013 and a goal of first LNG sales in 2018. Anadarko is operator in Offshore Area 1 with a 36.5 percent working interest. Co-owners include Japan's Mitsui, BPRL Ventures Mozambique, Videocon Mozambique Rovuma 1 and Cove Energy Mozambique Rovuma Offshore. Cove Energy is the target of a bidding war between Shell and Thailand's PTT Exploration and Production.

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