ET:Videocon Industries gains; Anadarko Petroleum increases gas reserve estimates
Shares of Videocon Industries rose after its partner in Mozambique oil and gas fields, Anadarko Petroleum Corp , increased recoverable gas reserves at Offshore Mozambique on Monday, four dealers said.
USoil company Anadarko said its major gas finds there were around twice as large as it earlier thought, lending support to hopes East Africa will become another major gas production centre.
"This could be one of the most important natural gas fields discovered in the last 10 years," said Anadarko Chairman Jim Hackett. Videocon owns 10 percent in Offshore Area 1 in Mozambique.
At 10:31 a.m. shares of Videocon were up 2.67 percent to 173.10 rupees.
