Shell Said to be in Talks with Anadarko

July 20, 2012
While Shell may have bowed out of the running for Cove Energy, the company has not given up on its ambitions to acquire a stake in the newly discovered gas bounty offshore Mozambique. Reports have the European major in discussions with Offshore Area 1 operator Anadarko Petroleum.

While the talks are said to be «informal» it is in the realm of possibility that Anadarko could part with a piece of its 36.5% stake in the acreage or even the whole pie; although in the past the US independent has put off any talk of farming down or selling its stake until  further results of exploration in the area are known.

To date the company has discovered an estimated 30+ Tcf of gas on the acreage.

If Anadarko passes on a sale, Shell could hit up any one of the other partners on the Mozambican block, India’s Bharat Petroleum Corp. and Videocon Industries Ltd., or even Mitsui E&P.

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