Algeria Mulls Options for Total’s Anadarko Deal

Algeria Mulls Options for Total’s Anadarko Deal

The Algerian government is reconsidering Total’s acquisition of Anadarko’s Algerian assets and looks for a good compromise, according to Algeria’s Energy Minister Mohamed Arkab, Reuters reported.

Occidental Petroleum agreed to sell Anadarko Petroleum Corporation’s assets in Algeria, Ghana, Mozambique, and South Africa to the French giant for $8.8 billion if the American company succeeds in buying Anadarko.

Arkab pointed out earlier that Algeria would block the deal, as the North African country is still suspicious about investments by firms from France, its former colonial occupier, despite that Total signed deals in Algeria last year.

“Sonatrach will seek a good compromise,” the minister said about the deal, speaking during a visit to Tindouf gas field.

Anadarko holdings in Algeria has a production capacity of around 260,000 barrels per day (b/d) of crude oil, accounting for a little more than 25% of the country’s total output, which is estimated at 1 million b/d.


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