Exploration Anadarko acquires tract in Jordan

March 11, 1996
Anadarko Acreage [42233 bytes] Anadarko Jordan Co. has signed a production sharing agreement (PSA) covering the 4.2 million acre Safawi block in Northeast Jordan. The company, a wholly owned unit of Anadarko Petroleum Corp., Houston, agreed to spend at least $5 million during the first 21/2 years of exploration. It plans to drill two stratigraphic holes this year to confirm the presence of "a working petroleum system." Anadarko owns a 100% working interest in the project but may take partners.

Anadarko Jordan Co. has signed a production sharing agreement (PSA) covering the 4.2 million acre Safawi block in Northeast Jordan.

The company, a wholly owned unit of Anadarko Petroleum Corp., Houston, agreed to spend at least $5 million during the first 21/2 years of exploration. It plans to drill two stratigraphic holes this year to confirm the presence of "a working petroleum system."

Anadarko owns a 100% working interest in the project but may take partners.

Entry into Jordan is part of an Anadarko exploration and development (E&D) program that involves the U.S. and "select international ventures that offer the chance for significant success."

At present, the company is conducting or participating in E&D in Algeria and Indonesia. It also agreed in 1995 to explore off Eritrea in the Red Sea.

At the end of 1995, about 18% of Anadarko's energy reserves were outside the U.S.

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