Anadarko to splash $770 million on exploration, Mozambique LNG

Offshore Mozambique (Image: Anadarko)

Woodlands-based Anadarko on Tuesday said it would spend about $770 million this year into its liquefied natural gas (LNG) development in Mozambique and the company’s deepwater and international exploration program.

The U.S. oil and gas company expects its initial capital budget for 2017 to be between $4.5 billion to $4.7 billion, compared with $3.3 billion in 2016.

Anadarko said it plans to invest about $120 million this year into the multi-billion dollar Mozambique LNG project where it has made “good progress” on the legal and contractual framework, and recently submitted a development plan to the Government of Mozambique for the Golfinho/Atum discoveries.

Anadarko and partners have discovered more than 75 Tcf of natural gas resources in the Prosperidade and Golfinho/Atum complexes in Mozambique’s Offshore Area 1, which will be used to feed an onshore LNG terminal on the Afungi peninsula in Cabo Delgado province.

The discovered reserves are sufficient to support two initial LNG trains, each with capacity of 6 million tonnes per annum, as well as to accommodate expansions, including additional trains capable of producing about 50 million tonnes of LNG per year, according to Anadarko.

 

LNG World News Staff

Share this article

Follow LNG World News

Events>

<< Jan 2019 >>
MTWTFSS
31 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Downstream 2019

Renowned as the most significant global meeting place for Downstream professionals…

read more >

Gas to Power APAC Congress 2019

The Gas to Power APAC Congress will bring together regional government officials and senior representatives from regulators…

read more >

2nd CWC Japan LNG & Gas Summit

The highly successful CWC Japan LNG & Gas Summit returns for a second year from 19-20 February 2019 in Tokyo, Japan…

read more >

Global LNG Forum 2019

Global LNG Forum is your opportunity to see what the future of LNG will be like…

read more >