Anadarko Petroleum to farm-into West Africa acreage

Anadarko Petroleum Corp. will participate in three exploration blocks off West Africa through various farm-in agreements signed with subsidiaries of Devon Energy Corp., Oklahoma City, Okla., Devon Energy said Thursday.


Anadarko Petroleum Corp. will participate in three exploration blocks off West Africa through various farm-in agreements signed with subsidiaries of Devon Energy Corp., Oklahoma City, Okla., Devon Energy said Thursday.

Anadarko will participate with a 50% interests in the Keta Block of Ghana and the Agali Block of Gabon. It will also hold a 37.5% interest in the Marine IX Block of Republic of Congo.

"These agreements allow us to diversify our risk and accelerate the drilling of these high-potential prospects," said Duane Radtke, president of Devon International, adding that Anadarko's geologic and exploration expertise should complement Devon's.

In the Keta Block, a deepwater seismic survey was recently completed and a shelf-edge exploration well will be drilled later this year. Another deepwater 3D seismic survey is planned for the Agali Block early next year to evaluate prospective areas identified on a recent 2D survey. A deepwater exploration well is planned for the Marine IX Block in 2001.

Devon Energy will retain operatorship in Ghana. Anadarko will operate in the Congo and in Gabon. The transactions are subject to customary government approvals.

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