HOUSTON, March 5, 2018 /PRNewswire/ -- Anadarko
Petroleum Corporation (NYSE: APC) today announced it has received
official approval from the Government of Mozambique for the Golfinho/Atum Field
Development Plan. The Development Plan outlines the integrated
onshore project from the reservoir to the LNG market and is a
culmination of the substantial progress made to date on the
technical and commercial aspects of the Anadarko-operated
Mozambique LNG development.
"We appreciate the support of the Government of Mozambique and are very pleased to achieve
this critical milestone providing a further indication of the
tremendous progress we continue to make on the project, which will
position Mozambique as a strategic
global LNG supplier," said Mitch
Ingram, Anadarko Executive Vice President, International
& Deepwater Operations and Project Management. "The approval of
the Development Plan continues advancement toward a Final
Investment Decision as it builds upon other recent achievements,
including the announcement of our long-term SPA (Sale and Purchase
Agreement) with EDF, commencement of resettlement, and our ongoing
work to secure project financing."
The 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. This
foundational project paves the way for significant future expansion
of up to 50 MTPA from Offshore Area 1. The Golfinho/Atum Project
will also supply initial volumes of approximately 100 million cubic
feet of natural gas per day (MMcf/d) (50 MMcf/d per train) for
domestic use in Mozambique.
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, 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