Anadarko Petroleum has announced that as part of its 2009 capital program, it expects the total capital expenditures, including expensed geology and geophysics operations, to be between $4 billion and $4.5 billion.
According to the company, the capital program allocates approximately 20% for exploration and appraisal activities and 20% for the company’s mega-projects, including such developments as the Jubilee field offshore Ghana, the Caesar/Tonga complex in the deepwater Gulf of Mexico and the El Merk project in Algeria.
Anadarko plans to maintain an exploration and appraisal program in 2009 by investing approximately 20 percent of its capital program in global exploration projects. This includes four to six high-impact exploration/appraisal wells in the deepwater Gulf of Mexico and approximately 20 high-potential gross wells internationally.
Jim Hackett, chairman and CEO of Anadarko, said: “We believe that a commitment to executing upon our exploration program and developing the projects in our portfolio is good to see forward for our stakeholders.”
Anadarko Petroleum Corporation is an independent oil and natural gas exploration and production company, with 2.4 billion barrels of oil equivalent (BBOE) of proved reserves at year-end 2007.
