Anadarko Petroleum Corporation is reportedly in discussions with Royal Dutch Shell Plc about a possible sale of its gas assets in Mozambique, Bloomberg reports.
The Woodlands-based Anadarko could be willing to sell some or its entire 36.5 percent stake in its offshore gas fields in Mozambique. However, Bloomberg reports that Anadarko is reluctant to sell its stake until more exploration results from the area are known.
Bloomberg reports that if Anadarko begins a formal auction process for its stake — which it has not done yet — the exploration and production company could get around $8 billion for the sale. Bloomberg based the price on another deal in the same fields, in which Thailand-based PTT Exploration & Production Pcl bought the U.K.’s Cove Energy Plc, which has 8.5 percent of same oil fields as Anadarko.
Royal Dutch Shell was also considering buying Cove, but it dropped its plan earlier this week after the Cove’s shares rose significantly.
Multiple energy companies are currently developing production facilities off the coast of Africa, including Houston-based Apache Corporation, to supply consumers in Asia.
