Total group’s entry into natural gas project in Mozambique dependent on Anadarko shareholders meeting

16 July 2019

The shareholders of the Anadarko Petroleum Corporation are due on 8 August to make an announcement on the proposal to purchase the entire share capital by Occidental Petroleum Corporation and its subsidiary Baseball Merger Sub 1, Inc.

The statement released recently in Houston recalled the conditions presented by the Occidental Petroleum group, of US$59 in cash and 0.2934 of a common share of the group for each share held by the shareholders of Anadarko Petroleum.

The statement signed by the chief executive Al Walker recalled that the Board of Directors unanimously approved the proposal from Occidental Petroleum and recommends that the shareholders approve it.

The 130-page document also points out that the group’s debt-free assets in Africa, including South Africa, Algeria, Ghana and Mozambique, will be sold to French group Total for US$8.8 billion, a deal that depends on the approval of shareholders of the Anadarko Petroleum group.

The Anadarko Petroleum Corporation in Mozambique, through its 100% controlled subsidiary Anadarko Moçambique Área 1, Ltd, operates the Rovuma Area 1 block, with 26.5%, in which its partners are ENH Rovuma Area Um, a subsidiary of Mozambican state-owned oil and gas company ENH, with 15%, Mitsui E&P Mozambique Area1 Ltd. (20%), ONGC Videsh Ltd. (10%), Beas Rovuma Energy Mozambique Limited (10%), BPRL Ventures Mozambique BV (10%), and PTTEP Mozambique Area 1 Limited (8.5%). (Macauhub)