ONGC unit to buy stake in Anadarko Mozambique block for $2.64 bln
NEW YORK Aug 25 (Reuters) - Anadarko Petroleum Corp said it agreed to sell a 10 percent stake in a gas field offshore Mozambique to a unit of India's Oil & Natural Gas Corp for $2.64 billion in cash, as the U.S. oil company looks to focus more on its domestic assets.
The deal for Mozambique's offshore Area 1 is expected to close around the end of this year, Anadarko said.
ONGC Videsh, the Indian company's overseas arm, recently paid $2.48 billion for a 10 percent stake in another Mozambique gas field from India's Videocon Group.
Anadarko also said it will remain the operator of Area 1 with a working interest of 26.5 percent in the block.
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