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Anadarko’s Jubilee party caps tough year

Posted by Business in Ghana on December 15, 2010

By Sheila McNulty in Houston, Financial Times, with permission

When the Jubilee field in Ghana produces its first oil on Wednesday it will represent more than a boost in production for Anadarko Petroleum.

It will also validate the US independent oil group’s strategy to pursue international exploration even as its peers pulled back. Oil groups globally are facing barriers to new markets dominated by state oil companies but Anadarko is among a handful seeking organic growth abroad.

The strategy is paying off. Anadarko says it expects production to rise by 7-9 per cent over the next five years, much of it from the string of oil discoveries off the west Africa coast. Read the rest of this entry »

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