Anadarko to invest US$770 million in exploration and Mozambique LNG

Anadarko Petroleum Corp. has announced its 2017 initial capital expectations and guidance.

In the statement, the company has announced its expectations to invest approximately US$770 million in its deepwater and international exploration programme and LNG project in Mozambique.

Within the year, the company is planning to drill up to 10 exploration/appraisal wells in the deepwater Gulf of Mexico, Côte d’Ivoire and Colombia, where it recently added to its exploration success with another discovery at the Purple Angel prospect.

Anadarko is expecting to continue the advancement of the Mozambique LNG project, where it is has made progress on the legal and contractual framework, and recently submitted a development plan to the Government of Mozambique for the Golfinho/Atum discoveries.

Source: LNG Industry