International

Algeria denies Total’s acquisition of Anadarko


ALGIERS, May 26 — Algerian Energy Minister Mohamed Arkab on Sunday denied being aware of shares sales of Anadarko Petroleum in Algeria to French energy giant Total.

“If the deal has been concluded, the Algerian government will resort to the option of pre-emptive right,” the state-run Radio Channel I quoted Arkab as saying.

The minister said that his ministry “has not received yet any response from Total over alleged negotiations to buy Anadarko’s shares in Algeria, and this means for us that no deal has been sealed so far.”

The right of pre-emption provides the government the priority to purchase shares of any foreign partner in Algeria.

French media reported that Total announced that it signed an agreement with the American Occidental Petroleum (Oxy) to acquire the assets of the Anadarko oil group in Algeria, Ghana, Mozambique and South Africa.

French media reported that the deal of acquiring Anadarko’s assets in Algeria is worth 8.8 billion U.S. dollars.
According to the official APS agency, Anadarko holds 24.5-percent stake in the Berkine basin, while Total holds already 12.25 percent.

In 2018, the production of these fields was estimated at 320,000 barrels of oil equivalent per day. – XINHUA