Anadarko not in talks to sell Mozambique assets

May 05, 2015 | Asset Acquisitions & Divestitures, Mozambique

Houston, US | –  American oil and gas exploration company, Anadarko Petroleum Corporation is not in talks to sell its multi-billion dollar stake in Mozambique’s gas reserves and is instead working toward a final investment decision on the planned liquefied natural gas (LNG) project, the company’s CEO said on Tuesday.

“As it relates to Mozambique, we’re not in discussions with anybody,” Al Walker, Anadarko’s chief executive officer said in a response to a question on the company’s earnings call. “We’ve never hired a banker to run a process.”

The executive also said that crude oil prices would need to be higher for a longer period of time before the company considers going back into growth mode.