Shell ‘in talks with Anadarko’ over Mozambique gas

Image source: Anadarko Petroleum.Image source: Anadarko Petroleum.Following its decision to end its bid for Cove Energy, Royal Dutch Shell has reportedly started discussing a takeover bid for Anadarko Petroleum's Rovuma-1 gas fields offshore Mozambique

Sources told Bloomberg that Shell had begun informal talks with US producer, Anadarko, about a deal for part or its entire 36.5 per cent stake in the Rovuma-1 fields.

Anadarko is apparently reluctant to sell its stake until further exploration results from the area are known.

No formal auction process has been instigated by Anadarko for its stake, but it has been valued at around US$8 billion based on the price PTT Exploration & Production recently offered to pay for Cove Energy, which holds 8.5 per cent of the same fields.

Officials at Shell and Anadarko refused to comment on the speculation surrounding a potential deal.

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