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Thursday, December 19, 2019
Sonatrach will reportedly block the Occidental Petroleum’s deal to sell Anadarko assets in Algeria to Total, Algeria’s energy minister told state news agency APS. Minister Mohamed Arkab said the deal was “incompatible” with Algerian legislation, and Sonatrach would implement its “pre-emption right” to block the deal.
Occidental acquired Anadarko Petroleum earlier this year, outbidding supermajor Chevron for the US independent. As part of the deal it agreed to sell Anadarko’s assets in Algeria, Ghana, Mozambique and South Africa to Total for $8.8 billion.
The Anadarko assets in Algeria produce about 260,000 bpd and include the El Merk and Hassi Berkine South developments.
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