Texas-based Anadarko (NYSE: APC) still is focused on Brazil despite having sold its 50% stake in the country's Peregrino oilfield to Norway's StatoilHydro (NYSE: STO), Anadarko president for Brazil, Kurt McCaslin, told BNamericas.
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"Our growth strategy for Brazil has not changed: Anadarko is still focused on Brazil. What happened was we had a really good offer for Peregrino," McCaslin said.
Anadarko sold its stake in Peregrino and 25% stake in the Kaskida discovery in the deepwater US Gulf of Mexico to StatoilHydro. For Kaskida and Peregrino, StatoilHydro agreed to pay Anadarko US$1.8bn plus a maximum pre-tax value of US$300mn related to the Peregrino field to be earned by 2020, conditional on future oil prices.
Anadarko still has stakes in seven exploration blocks in Brazil, all in the Campos basin's pre-salt areas. The company has "huge" experience in pre-salt deepwater thanks to its work in the Gulf of Mexico since 1992.
Anadarko has experience "drilling even deeper than the recent Tupi discovery," McCaslin said in reference to Brazil's biggest pre-salt find to date, which is in the Santos basin.
The outlook for the prolific Santos, Campos and Espírito Santo basins is exciting, McCaslin said, declining to discuss strategies for this year's hydrocarbons licensing rounds in Brazil.
