Tuesday, November 29, 2011
Anadarko Petroleum Corp Mozambique Offshore Natural Gas
Anadarko, whose partners in the block include Dublin-based Cove Energy PLC and Japan's Mitsui & Co., is the field's operator, with a 36.5% interest.
The announcement came just a month after Eni SpA, the Italian energy giant, announced it had found 22.5 trillion cubic feet of gas off Mozambique's coast—the biggest such exploration discovery in the company's history. Such large resources appear big enough to sustain the construction of a large liquefied-natural-gas, or LNG, plant in Mozambique, catapulting the impoverished former Portuguese colony into the world's major league of gas exporters.
Meanwhile the gas-rich waters offshore Tanzania have recently attracted a number of big players, including Exxon Mobil Corp., Statoil ASA of Norway and BG Group PLC, which is also exploring off Kenya. (WSJ, 11/29/2011)