Anadarko Not in Talks to Sells Stake in Mozambique Gas Assets

Anadarko Petroleum is not in talks to sell its stake in Mozambique's gas assets, Al Walker, Anadarko's chief executive officer, said during company’s earnings call, reported Reuters.

"As it relates to Mozambique, we're not in discussions with anybody," Al Walker, Anadarko's chief executive officer, said in response to a question on the company's earnings call. "We've never hired a banker to run a process."

According to Reuters, Walker said that the company is instead working toward a final investment decision on the planned LNG project there.

Anadarko has a 26.5 percent stake in the Area 1 license in the Rovuma Basin offshore Mozambique.

The company is gathering the needed agreements and approvals, and a final funding decision is expected later this year or into next year, Reuters quoted the company as saying.