Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/financial/money/anadarko-announces-1075-billion-china-divestiture.shtmlAnadarko announces $1.075 billion China divestiture
Anadarko Petroleum Corporation has entered into a stock purchase agreement with a wholly owned subsidiary of
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Anadarko Petroleum Corporation has entered into a stock purchase agreement with a wholly owned subsidiary of Brightoil Petroleum (Holdings) Limited, whereby Anadarko will divest its Chinese subsidiary for $1.075 billion.
"This transaction accelerates the recognition of value from a non-operated legacy asset and continues to demonstrate our commitment to active portfolio management," said Anadarko Chairman, President and CEO Al Walker. "We value our long-term relationship with CNOOC, wish them continued success and look forward to future partnering opportunities."
