Anadarko to drill play-opening deepwater well in Kenya

Anadarko says it expects to drill its play-opening exploration deepwater well in Kenya in 2015 as part of nine to 12 deepwater exploration/appraisal wells planned for 2015 in various licenses including Colombia and Gulf of Mexico.

Anadarko which operates offshore blocks L5, L7, L12, L11A and L11B will be drilling any of the undrilled blocks having tasted of tough luck in the Kenya’s part of the Indian Ocean.

Anadarko which operates the L7 Block with a 50-percent working interest has had an unlucky run in offshore Kenya after it struck non-commercial oil shows at the Kubwa well in early 2013.

The Kubwa well however confirmed a working hydrocarbon system within reservoir quality sands.

Co-venturers in the L-07 Block included Total E&P Kenya B.V. (40 percent) and PTT Exploration & Production Plc (10 percent).

“During 2015, we are confident in our ability to leverage our deep, high-quality portfolio of opportunities, strong balance sheet and efficient capital allocation to preserve value and maintain flexibility,” said Anadarko Chairman, President and CEO Al Walker.

The start of exploration in East Africa comes even as the company announced it was reducing spending by about 33 percent this year in light of low crude oil prices with plans to cut U.S. onshore rig activity by 40 percent and defer about 125 onshore well completions in the Wattenberg field in Colorado, the Eagle Ford shale and Permian Basin in Texas.

Other than acreage in Kenya in East Africa Anadarko also has interest in Mozambique where it has discovered large volumes of natural gas and is continuing to progress its LNG project.