Anadarko Sells Mozambique Assets To Focus On Shale Projects

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Hira Shahnawaz Akhtar
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Anadarko Petroleum Corporation (NYSE:APC), the American oil exploration giant, announced yesterday that it has entered into an agreement with India’s Oil & Natural Gas Corporation Limited (NSE:ONGC) to sell a ten percent interest in the Mozambique offshore area. Anadarko’s transaction of Mozambique Offshore Area 1 Anadarko Petroleum Corporation (NYSE:APC) is to remain the operator of Mozambique Offshore Area 1, with a working interest of 26.5 percent. The transaction is expected to close at the end of 2013 and is subject to approvals by the governments of Mozambique and India. “Area 1 is operated by Anadarko Moçambique Area 1 Limitada (a wholly owned…

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Hira is a financial analyst whose expertise lies in commodity and other financial markets. Hira is currently an independent financial consultant and is working with many international firms like American Arab Solutions (AAS). She has previously served as a Senior Research Analyst at Alternate Research (Pvt.) Ltd. as the Team Leader for the International Equities Research. She has also worked as an equities analyst of Pakistani E&P stocks at Invest Capital Markets. She has experience in business development and conducting feasibility studies in commodity markets, specifically in sugar, palm oil and canola oilseeds. She has cleared all three levels of her CFA (Chartered Financial Analyst) and has an undergraduate degree in Finance.