Videocon Industries Discovered gas in Lagosta Well

Videocon Industries and its partners including Amadarko, Cove Energy and BPRL discovered gas in the Lagosta well in Mozambique in the end of November 2010. The discovery marked Videocon's third gas discovery in Mozambique. The Lagosta discovery following the Barquentine discovery will significantly expand the group’s natural gas province.  Lagosta discovery has the potential to support a liquefied natural gas (LNG) facility. BPCL and Videocon are 20% partners of the block. In October 2010 Videocon and its partners had announced gas discovery from its 4th well, the Barquentine well. The first major gas discovery was made in February 2010 in the Windjammer well.

Videocon Industries currently owns 10 blocks in Brazil, one in Mozambique, one in Indonesia, one in East Timor and another in Australia as well as Ravva in India.