Anadarko Provides East Africa Exploration Update
Discovers New Natural Gas Field Offshore Mozambique; Encounters Oil
Shows Offshore Kenya
HOUSTON, TX -- (Marketwired) -- 04/18/13 -- Anadarko Petroleum
Corporation (NYSE: APC) today announced the discovery of a new
natural gas accumulation fully contained within the Offshore Area 1
of the Rovuma Basin of Mozambique. The Orca-1 discovery well
encountered approximately 190 net feet (58 meters) of natural gas pay
in a Paleocene fan system.
"Discovering another large, distinct and separate natural gas
accumulation in the Offshore Area 1 continues our outstanding
exploration success offshore Mozambique," said Sr. Vice President,
Worldwide Exploration Bob Daniels. "We are designing an initial
two-well appraisal program to define the areal extent of the Orca
field, which will commence immediately after drilling our Linguado
and Espadarte exploration wells. Orca is a single large Paleocene
column, and its proximity to shore provides additional options and
flexibility for potential future development."
The Orca-1 exploration well was drilled to a total depth of
approximately 16,391 feet (4,996 meters), in water depths of
approximately 3,481 feet (1,061 meters).
Anadarko is the operator in the Offshore Area 1 with a 36.5-percent
working interest. Co-owners include Mitsui E&P Mozambique Area 1,
Limited (20 percent), BPRL Ventures Mozambique B.V. (10 percent),
Videocon Mozambique Rovuma 1 Limited (10 percent) and PTT Exploration
& Production Plc (8.5 percent). Empresa Nacional de Hidrocarbonetos,
ep's 15-percent interest is carried through the exploration phase.
Anadarko also completed drilling its Kubwa well in the L-07 Block
offshore Kenya, which encountered non-commercial oil shows in
"We are very encouraged with our first test of Kenya's previously
unexplored deepwater basin, in which mudlog and well-site evaluation
of core data indicates the presence of a working petroleum system
with reservoir-quality sands," Daniels said. "The Kubwa well tested
multiple play concepts and provided useful data regarding the
prospectivity of our six-million-acre position offshore Kenya. The
rig will now mobilize south to drill the Kiboko well."
Anadarko operates the L-07 Block with a 50-percent working int
Co-venturers in the L-07 Block include Total E&P Kenya B.V. (40
percent) and PTT Exploration & Production Plc (10 percent).
A map of Anadarko's position in Mozambique's Offshore Area 1 will be
available under the "Media Center/Anadarko News" tab at
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 2012, the company had
approximately 2.56 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
Flash Feed 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 drill, develop and commercially operate the drilling
prospects identified in this news release. See "Risk Factors" in the
company's 2012 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
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