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 signed a Sale and Purchase Agreement (SPA) with Pertamina. The SPA is for 1 million tonnes per annum (MTPA) for a term of 20 years.
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US independent Anadarko, on behalf of the Mozambique Area 1 partners, signed a deal with Bharat Gas Resources for the supply of LNG volumes from the Mozambique LNG development.
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US oil company Anadarko has announced that its exploration activities in South Africa are at an early stage.
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The oil company Anadarko announced on Tuesday that it is seeking proposals for the provision of a Mobile Offshore Drilling Unit (MODU) for well construction off the north coast of Mozambique. (Click HERE for the full text)
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Anadarko Petroleum has posted a 74% increase in profits for 4Q18, but since then, oil prices have tumbled and may average $61/bbl in 2019, as per BNP Paribas.
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High profile arrests in early January related to Mozambique’s “hidden debts” scandal, made at the request of US prosecutors, are an unsettling reminder that the country still faces questions over its financial credibility. It is something those trying to fund LNG projects based on the massive gas reserves of the Rovuma basin could do without.
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Mozambique’s Rovuma gas development will see a final investment decision (FID) for Area 1 by April, the chairman of the country’s NOC said on Sunday.
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Anadarko Petroleum’s adjusted profit surged 74 per cent in the December quarter, as it sold more oil at higher prices.
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Anadarko is making progress with the development of the vast gas resources discovered in its offshore block in Mozambique and is working on executing a sale contract for 2 MTPA of LNG a year prior to making the final investment decision.
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Tokyo Gas and Centrica have signed agreements to buy gas from Anadarko-operated Mozambique LNG project firming up the non-binding heads of agreements signed in June 2018. In a separate statement on Tuesday, Anadarko said it had signed a similar deal with Shell.
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