HOUSTON, May 18, 2015 /PRNewswire/ -- Anadarko
Petroleum Corporation (NYSE: APC) on behalf of the co-venturers in
Mozambique's Offshore Area 1, and
after a competitive FEED (front-end engineering and design)
process, today announced the selection of a consortium consisting
of CB&I, Chiyoda Corporation and Saipem (CCS JV) for the
initial development of the onshore LNG park in Mozambique.
"Selecting CCS JV for the development of the onshore Mozambique
LNG park is a significant step toward reaching FID (Final
Investment Decision) and demonstrates our continued commitment to
advancing this important project toward first cargoes," said
Anadarko Chairman, President and CEO, Al
Walker. "I am incredibly proud of our co-venture for all of
the accomplishments achieved to date, including securing more than
8 million tonnes per annum (MMTPA) in non-binding long-term
off-take agreements, which are now progressing toward binding SPAs
(Sales and Purchase Agreements), obtaining letters of intent from
lenders for project financing at a very material level, and working
with the newly elected Government to keep the project moving
forward. We also congratulate the contractor group, CCS JV, on its
selection, and look forward to working with the Offshore Area 1
co-venturers to submit a Plan of Development in the coming months
for the Government's consideration."
The scope of the work for the onshore LNG park includes two LNG
trains, each with capacity of 6 MMTPA, which is an increase of 1
MMTPA per train over the original plan, while maintaining an
estimated cost that is consistent with the co-venturers' original
projections. The scope also includes two LNG storage tanks, each
with capacity of 180,000 cubic meters, condensate storage,
multi-berth marine jetty and associated utilities and
infrastructure. The selection of CCS JV is subject to negotiation
and entry into a definitive agreement prior to taking FID.
Anadarko operates the 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).
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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
2014, the company had approximately 2.86 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 Photo -
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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 enter into a definitive agreement
with CCS JV, enter into final SPAs and successfully
plan, secure necessary government approvals, finance, build, and
operate the necessary infrastructure and LNG park. See "Risk
Factors" in the company's 2014 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
MEDIA:
John
Christiansen, john.christiansen@anadarko.com,
832.636.8736
Stephanie Moreland,
stephanie.moreland@anadarko.com, 832.636.2912
Christina Ramirez,
christina.ramirez@anadarko.com, 832.636.8687
INVESTORS:
John
Colglazier,
john.colglazier@anadarko.com, 832.636.2306
Robin Fielder,
robin.fielder@anadarko.com, 832.636.1462
Jeremy Smith,
jeremy.smith@anadarko.com, 832.636.1544
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SOURCE Anadarko Petroleum Corporation