HOUSTON, July 31, 2017 /PRNewswire/ -- Anadarko
Petroleum Corporation (NYSE: APC) today announced that it had
finalized two agreements with the Government of Mozambique – together known as the "marine
concessions" – which would allow it to design, build and
operate the marine facilities for its LNG project in northern
Mozambique. This follows the
publication of the Mozambican Government Decrees approving those
agreements.
"This is a key milestone on the path to a final investment
decision (FID) for our initial two-train LNG project," said
Mitch Ingram, Anadarko Executive
Vice President, Global LNG. "It marks the completion of the core
components of the Legal and Contractual Framework with the
Government. We will now look ahead with our plans to begin
resettlement, which will enable the construction of the LNG plant.
In addition, we continue to make good progress with our efforts to
secure long-term LNG Sales and Purchase Agreements (SPAs) with
premier buyers, and we will intensify our work to put in place the
necessary financing for the project. We expect to take FID once the
SPAs and financing are in place."
Anadarko is developing Mozambique's first onshore LNG plant
consisting of two initial LNG trains with a total capacity of 12
million tonnes per annum (MTPA) to support the Golfinho/Atum field
located entirely within Offshore Area 1.
Anadarko operates Offshore Area 1 with a 26.5-percent working
interest. Co-venturers include Empresa Nacional de Hidrocarbonetos
E.P. (ENH) (15 percent), Mitsui E&P Mozambique Area1 Ltd. (20
percent), ONGC Videsh Ltd. (16 percent), Bharat PetroResources Ltd.
(10 percent), PTT Exploration & Production Plc (8.5 percent),
and Oil India Ltd. (4 percent).
Logo: http://photos.prnewswire.com/prnh/20141103/156201LOGO
Anadarko Petroleum Corporation's mission is to deliver a
competitive and sustainable rate of return to shareholders by
exploring for, acquiring and developing oil and natural gas
resources vital to the world's health and welfare. As of year-end
2016, the company had approximately 1.72 billion barrels-equivalent
of proved reserves, making it one of the world's largest
independent exploration and production companies. For more
information about Anadarko and APC Flash Feed updates, please visit
www.anadarko.com.
This news release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Anadarko
believes that its expectations are based on reasonable assumptions.
No assurance, however, can be given that such expectations will
prove to have been correct. A number of factors could cause actual
results to differ materially from the projections, anticipated
results or other expectations expressed in this news release,
including Anadarko's ability to successfully plan, secure
additional government approvals, enter into long-term sales
contracts, finance, build, and operate the necessary infrastructure
and LNG park in Mozambique. See
"Risk Factors" in the company's 2016 Annual Report on Form 10-K,
Quarterly Reports on Form 10-Q and other public filings and press
releases. Anadarko undertakes no obligation to publicly update or
revise any forward-looking statements.
Anadarko Contacts
INVESTORS:
Robin
Fielder, robin.fielder@anadarko.com, +1 832.636.1462
Andy Taylor,
andy.taylor@anadarko.com, +1 832.636.3089
Pete Zagrzecki,
pete.zagrzecki@anadarko.com, +1 832.636.7727
MEDIA:
John
Christiansen, john.christiansen@anadarko.com, +1
832.636.8736
Stephanie Moreland,
stephanie.moreland@anadarko.com, +1 832.636.2912
Helen Wells,
helen.wells@anadarko.com, +1 832.636.2366
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SOURCE Anadarko Petroleum Corporation