Reuters: Anadarko Considers Selling Mozambique Gas Assets to Exxon

Anadarko Petroleum is considering selling its multi-billion dollar stake in Mozambique's giant gas reserves, with Exxon Mobil and Qatar Petroleum both showing interest, banking and industry sources said.

Exxon is seen as the front runner, and it would be its first big acquisition since the oil price collapse. The world's largest oil firm has been expected to follow the example of Royal Dutch Shell, which agreed to buy BG Group (BG.L) for $70 billion last week.

Anadarko, which has opened its data rooms to investors keen to get a more detailed picture of its reserves, could sell up to its full 26.5 percent stake in Mozambique's offshore Area 1 licence in the Rovuma Basin, the sources said.

The last stake sold, 10 pct, went for $2.64 billion in 2013 to India's ONGC, but that was seen as overpriced and oil and gas prices have since fallen sharply, making it hard to value Anadarko's remaining asset. MORE