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Hilbroy Advisory: BPCL plans LNG import facility, pipeline infrastructure for Mozambique gas
Hilbroy Advisory: BPCL plans LNG import facility, pipeline infrastructure for Mozambique gas
Indian energy firms are acquiring assets abroad and improving infrastructure to help meet the growing demand for energy in Asia's third-largest economy.
Montreal,
Quebec,
Canada
(prbd.net)
06/04/2011
Montreal, Quebec, April 5, 2011– Hilbroy Advisory Inc. (DeutcheBörse: 2H0) Hilbroy Advisory Reports: State-run Bharat Petroleum Corporation (BPCL) plans to build an LNG import facility and pipeline infrastructure in India to transport gas from a Mozambique block in which it holds stake with Videocon Industries.
Indian energy firms are acquiring assets abroad and improving infrastructure to help meet the growing demand for energy in Asia's third-largest economy.
"We could look at setting up our own LNG import facility and also build a requisite pipeline, once we decide on the final course of action for our offshore blocks in Mozambique," said SK Joshi, director finance, BPCL.
BPCL, India's second biggest refiner, and diversified Videocon Industries have 10% stake each in the 2.6-million-acre offshore area in the deep waters of the Rovuma sedimentary basin, in Mozambique's Cabo Delgado province. US-based Anadarko is the operator of the area with a 36.5% stake.
In early February, Anadarko announced its fourth natural gas discovery in the area, after a string of major deepwater natural gas discoveries.
"The Tubarao discovery well encountered more than 110 net feet (34 metres) of natural gas pay and no water in a high-quality Eocene-age reservoir, that is separate and distinct from the hydrocarbon accumulations in Anadarko's three previous discoveries in the offshore area 1 of the Rovuma Basin," BPCL said. "Currently, drill stem tests are being conducted and we should get the final appraisals from Mozambique in the next 12-15 months," Joshi said.
BPCL and Videocon had together acquired the Brazilian Oil exploration firm EnCana Brasil Petroleo. EnCana's assets include 10 deep-water offshore petroleum exploration blocks. Both companies also bought 12.5% stake each from Anadarko Indonesia in the Nunukan block in offshore Indonesia.
BPCL holds stake in 24 oil and gas blocks globally, including India. It has invested around 600 crore in Mozambique, 1,000 crore in Brazil and 100 crores in Indonesia.
About Hilbroy Advisory Inc.
Hilbroy Advisory Inc. is a Canadian based advisory and consultancy services company founded in 2000. Our Company provides publicly traded and private companies, institutions and individuals with a series of advisory services enabling these companies to fully reach their corporate objectives and potential.
Our specialists will customize a service package that includes reviewing, identifying and recommending a series of specific action and tasks that help their clients’ management decisions when seeking
• Go Public strategy,
• Debt and or equity financing
• Identify prospective investors
• Hire investor relations firm
• Cross listing decisions
• Planning road-shows and promotional campaigns.
Hilbroy Advisory has established numerous international relationships over the years with Broker Dealers, Hedge Funds, Institutional Investors, High net worth Investors as well as with investor relations firms and consultants. These relationships are made available to all Hilbroy clients and our team will manage the relationships from introduction to post financing activities.
Contact:
Jean François Amyot
HilbroyAdvisory, Inc.
1400 rue Begin
Montreal, QC H4R 1X1
info@hilbroyadvisory.com
www.hilbroyadvisory.com
Tel: 514-334-3131
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All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates", "believes", "could", "expects", "intends", "may", "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
About
Hilbroy Advisory Inc. is a Canadian based advisory and consultancy services company founded in 2000. Our Company provides publicly traded and private companies, institutions and individuals with a series of advisory services enabling these companies to fully reach their corporate objectives and potential.
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