HOUSTON, Feb. 20, 2018 /PRNewswire/ -- Anadarko
Petroleum Corporation (NYSE: APC) today announced Mozambique LNG1 Company Pte. Ltd., the jointly
owned sales entity of the Mozambique Area 1 co-venturers, has entered
into a long-term LNG Sale and Purchase Agreement (SPA) with
Électricité de France, S.A.,
(EDF). The off-take agreement calls for the supply of 1.2 million
tonnes per annum (MTPA) for a term of 15 years.
"EDF is one of the world's largest electric utilities, and
reaching this SPA continues to validate Mozambique LNG's position
as a competitive long-term LNG supplier and as one of the world's
leading greenfield projects," said Mitch
Ingram, Anadarko Executive Vice President, International
& Deepwater Operations and Project Management. "Mozambique LNG
is unique in its ability to supply LNG to a variety of geographic
locations to serve its customers, and this SPA gives us flexible
access to Europe, which is one of
our key strategic markets. The EDF sale is included in the
portfolio of sales of more than 5 MTPA for which we have agreed key
terms, and we continue to advance additional off-take arrangements.
We anticipate the future development of Mozambique LNG will open
new opportunities for the country and serve as a growth platform
for its ongoing development."
The Anadarko-operated Mozambique LNG project will be
Mozambique's first onshore LNG
development, initially consisting of two LNG trains with total
nameplate capacity of 12.88 MTPA to support the development of the
Golfinho/Atum fields located entirely within Offshore Area 1.
Anadarko Moçambique Área 1, Lda, a wholly owned subsidiary of
Anadarko Petroleum Corporation, operates Offshore Area 1 with a
26.5-percent working interest. Co-venturers include ENH Rovuma Área
Um, S.A. (15 percent), Mitsui E&P Mozambique Area1 Ltd. (20
percent), ONGC Videsh Ltd. (10 percent), Beas Rovuma Energy
Mozambique Limited (10 percent), BPRL Ventures Mozambique B.V. (10
percent), and PTTEP Mozambique Area 1 Limited (8.5 percent).
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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
2017, the company had approximately 1.44 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. Learn more about the Mozambique LNG project at
www.mzlng.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, finalize the long-term sales
contracts referenced in this news release and enter into additional
long-term sales contracts, finance, build, and operate the
necessary infrastructure and LNG park in Mozambique. See "Risk Factors" in the
company's 2017 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
Kate Sloan, kate.sloan@anadarko.com,
+1 832.636.2562
Andy Taylor,
andy.taylor@anadarko.com, +1 832.636.3089
MEDIA:
John
Christiansen, john.christiansen@anadarko.com, +1
832.636.8736
Helen Wells,
helen.wells@anadarko.com, +1 832.636.2366
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SOURCE Anadarko Petroleum Corporation