Petroleum Africa
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Monday, November 20, 2017
Anadarko Petroleum released its 2018 capital expectations and guidance. Over the next year the US independent expects to make capital investments in the range of $4.2 to $4.6 billion. Anadarko says the capital program is designed to enhance shareholder value by delivering attractive margins and returns, while advancing the development of its core assets within discretionary cash flow.
While the majority of the company’s capital investments budget, an estimated 80%, will go towards activities in the Delaware and DJ basins, including Anadarko midstream, and the deepwater Gulf of Mexico; the company will spend some of its funds on activities in Africa.
The company has slated more than $150 million toward its international cash-generating operations, specifically Algeria and Ghana. These investments will support further drilling in the TEN development area, which is expected to commence in early 2018, as well as additional drilling operations in the Jubilee field following the Ghanaian Government’s recent approval of the full-field plan of development.
Another $150 million or so will be spent on the other side of the continent in Mozambique. The company expects to invest the funds to advance the Mozambique LNG project, using the funds to primarily fund its portion of the costs associated with preparing the site of the future LNG park
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