Anadarko catches everyone by surprise on Golfinho

According to Africa Intelligence sources, Anadarko submitted a development program for its Golfinho field on block1 to the Ministry of Mineral Resources and Energy in mid-December.

The Ministry, headed since October 2016 by Leticia da Silva Deusina Klemens, will now take a close look at technical proposals for the project that is to supply gas to two LNG trains situated in Cabo Delgado Province.

In submitting the program – a necessary step before any final investment decision – the Texas-based firm run by Al Walker was intent on boosting the value of its Mozambican holdings.

If the program is accepted as such or after a few changes there’ll be no further hurdles for Anadarko to negotiate before launching the programed.

Anadarko hopes the move will revive the interest of other oil companies in buying all or part of its assets in Mozambique. The firm still owns 26.5% of block-1 alongside Mitsui E&P Mozambique Area 1, ONGC Videsh, Bharat PetroResources, PTT Exploration & Production and Oil India.

Anadarko is counting on stirring interest with ExxonMobil whose boss, Rex Tillerson (likely to become the incoming American administration’s Secretary of State) met President Filipe Nyusi in September to voice his company’s hopes of buying into blocks-1 and 4. However, ExxonMobil’s talks Anadarko and ENI haven’t yet brought any concrete results.

Due to the gigantic amount of reserves on blocks-1 and 4 (over 100 TCF, part of which on fields that straddle the two blocks) few companies have the financial firepower to invest in and develop LNG projects.

Source: Africa Intelligence
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