Feb 5 Anadarko Petroleum Corp said on
Tuesday it has stepped up security at its facilities in Algeria
following a deadly gas plant siege by Islamist militants in
"As I'm sure you can expect, we have taken appropriate
actions with Sonatrach and with the Algerian government to
enhance security for people and our facility," Anadarko CEO Al
Walker told analysts on a conference call.
Walker declined to provide additional details, but said his
company remained committed to Algeria. Sonatrach is Algeria's
state-owned oil company.
At least 80 people were killed in a bloody showdown between
Algerian security forces and armed hostage takers in the In
Amenas gas field located in the Sahara desert.
Anadarko and its partners are currently producing oil from
its Hassi Berkine South and Ourhoud projects in the Sahara. At
its El Merk development, sales volumes are expected to increase
steadily throughout 2013, Walker said.
Anadarko on Monday reported fourth-quarter results that
exceeded analysts expectations, helped by an 8 percent increase
in oil and gas production, lower expenses and better gas price
realizations, analysts said.
Investors are anxiously waiting a judge's ruling in a $25
billion case brought against Anadarko by paint materials company
Tronox Inc, a decision that could come at any time.
Tronox has claimed that when it was spun off in 2005 by
Kerr-McGee Corp, which Anadarko later bought, it had been
saddled with liabilities that led to its January 2009 bankruptcy
filing. Tronox emerged from Chapter 11 protection in February
With the support of the U.S. Environmental Protection
Agency, Tronox also claims that Anadarko should pay for
environmental cleanup at more than 2,000 polluted U.S. sites.
Bobby Reeves, Anadarko's general counsel, told analysts he
was confident in the company's case at trial and said a loss is
Shares of Anadarko rose $1.65, or 2 percent, to $82.15 in
midday New York Stock Exchange trading.