Anadarko eyes $1 bln sale of China oil and gas project stakes-sources

HONG KONG Sun Nov 3, 2013 9:35pm EST

Related Topics

HONG KONG Nov 4 (Reuters) - Anadarko Petroleum Corp is considering the sale of its holdings in oil and gas projects in China, in a deal that could be valued at about $1 billion, sources familiar with the matter told Reuters.

Anadarko owns about a 35 percent interest in production and development projects in China's Bohai Bay. The planned sale is part of Houston-based Anadarko's strategy to raise cash to plough money back into gas properties in the United States.

Last year, it transferred day-to-day operations of the projects to its joint venture partner CNOOC Ltd as part of an earlier agreement.

The sources declined to be identified as they were not authorised to speak to media.

Anadarko declined to comment.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

A tourist takes a plunge as she swims at Ngapali Beach, a popular tourist site, in the Thandwe township of the Rakhine state, October 6, 2013. Picture taken October 6, 2013. REUTERS/Soe Zeya Tun (MYANMAR - Tags: SOCIETY) - RTR3FOI0

Where do you want to go?

We look at when to take trips, budget considerations and the popularity of multigenerational family travel.   Video