HOUSTON, Dec. 22 /PRNewswire/ -- Anadarko Petroleum Corporation
(NYSE: APC) and its partners, SONATRACH, LASMO and Maersk, today announced the
signing of an addendum to the Engineering, Procurement & Construction (EPC)
contract entered into with Brown & Root-Condor last September for the
development of Stage II facilities for the Hassi Berkine South (HBNS) Field.
The signing will lead to further significant expansion of the Company's
production capabilities in Algeria by providing for development of the Hassi
Berkine (HBN) oil field in the Sahara Desert in Algeria.
Brown & Root Condor is a company jointly owned by Brown & Root (a
subsidiary of Halliburton Company) and affiliates of SONATRACH.
With this signing, Anadarko and partners exercise the first of two fixed-
price options available to them as part of the EPC contract. This option
covers construction of a production train capable of processing 75,000 BOPD
(gross) from the HBN Field, and installation of a gathering system, injection
lines and crude oil storage and export facilities. The HBN Field is located
on Block 404, operated by the Anadarko/SONATRACH Association, and on Block
403, operated by the AGIP/SONATRACH Association. The HBN Field will be
unitized between the two Associations. Preliminary cost and production
sharing splits will be 74.5% for the Anadarko/SONATRACH Association and
25.5% for the AGIP/SONATRACH Association.
Anadarko's scheduled development plan calls for completion of the Stage II
facilities at HBNS, capable of handling 75,000 BOPD (gross), in the fall of
2001. The HBN facilities are expected to be completed in early 2002. At that
time, a total of three production trains at the Central Production Facility
will give the partners total crude oil production capacity of 210,000 BOPD
(gross). (An EPC contract with Brown & Root-Condor was signed in September
1996 for construction of the Stage I facilities, with a capacity of
60,000 BOPD (gross). (Initial oil production began in May 1998.)
The original EPC contract with Brown & Root Condor includes one remaining
fixed-price option to construct a fourth production train, with a capacity of
75,000 BOPD (gross) to develop the "satellite" fields on Block 404 (HBNSE,
RBK, QBN and BKNE) that are near the HBNS Field discovered by Anadarko and
partners in January 1995.
Other partners in the Algerian venture include SONATRACH, Lasmo Oil
(Algeria) Limited, a wholly owned subsidiary of LASMO plc; and Maersk Olie
Algeriet AS, a wholly owned subsidiary of Maersk Olie Og Gas AS, a company in
the Danish A.P. Moeller Group.
SOURCE Anadarko Petroleum Corporation
 back to top
Related links:
http://www.anadarko.com
Photo Notes:http://www.newscom.com/cgi-bin/prnh/19990430/ANADARKOLOGO
PRN Photo Desk, 888-776-6555 or 201-369-3467
Company News On-Call:
http://www.prnewswire.com/comp/038950.html or fax,
800-758-5804, ext. 038950
CONTACT:
investors, A. Paul Taylor, Jr., 281-874-3471,
or media, Tony Canino, 281-873-3855, both of Anadarko Petroleum
Corporation
|
