Anadarko Sells Production Assets in Qatar

Anadarko Petroleum has agreed to divest 100 percent of its interest in Anadarko Qatar Energy Company LLC and Anadarko Resources Company (collectively "Anadarko Qatar"), which together holds a 92.5 percent interest in Blocks 12 and 13 in Qatar, to a subsidiary of Occidental Petroleum Corporation for $350 million. Block 12 includes the Al Rayyan Field, representing all of Anadarko's production operations in Qatar and is operated by Anadarko Qatar.

Current net production from Qatar is approximately 6,000 barrels of oil per day from the Al Rayyan Field. Anadarko will retain its exploration interests in Qatar in Blocks 4 and 11.

The transaction is subject to customary closing conditions and adjustments and the approval of Qatar Petroleum. Anadarko's transaction advisor for this sale is Tristone Capital Inc.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
United States Houston: Account Rep, Bus Dev, Sr
Expertise: Business Development|Sales
Location: Houston, TX
Business Development Manager
Expertise: Business Development|Construction Manager|Sales
Location: Tempe, AZ
SXL- Manager, Business Development
Expertise: Business Development
Location: Newtown Square, PA
search for more jobs

Brent Crude Oil : $50.47/BBL 0.98%
Light Crude Oil : $49.72/BBL 1.09%
Natural Gas : $2.76/MMBtu 1.09%
Updated in last 24 hours