work in the Gulf
of Mexico
Revealing the new development here, CEO Jim Hackett said Anadarko had secured rigs to drill at the Kosrou prospect this year. He told a Barclays Securities’ investor conference that the company expected to explore the Paon prospect there next year.
Hackett also said Anadarko expected a decision in December in the arbitration case it had brought against Algeria for the North African country’s ‘exceptional profits tax.’
“A favourable ruling for Anadarko would be worth about US$2 billion to the company,” he added, “plus potentially another US$2 billion in the future.”
Shares of Anadarko rose 2% to US$72.39 in early trading today.
