Anadarko makes new gas discovery

Anadarko yesterday reported that it had found a significant gas accumulation off the coast of Mozambique, marking the latest oil and gas find to be made by Western companies in the East African waters. Anadarko’s partners in the latest find include London-listed Cove Energy, which is the target of a bid war between Royal Dutch Shell and Thailand's PTT because of its Mozambique interests. Anadarko said the successful Atum exploration well lies within the Offshore Area 1 of the Rovuma Basin. Cove’s share rose 1.9 per cent yesterday.