Tuesday, September 28, 2010

Anadarko (NYSE:APC) Liberian Drilling Should Start in December

Anadarko Petroleum Corp. (NYSE:APC) should be ready to start it first drilling at the Venus offshore oil field in December, according to the energy minister of Liberia.

Eugene Shannon, minister of land, mines and energy, said at an energy conference in Africa, "We are looking forward to December to have the first well drilled in Venus Basin by Anadarko."

In September 2009, Anadarko announced they had made a major find off the Sierra Leone coast, which had the potential to open up a gigantic oil business in West Africa.

Billions of barrels of oil could be in the region, where the consortium, led by Anadarko, and including Tullow Oil (OTC:TUWLF), among others, could tap into for years.

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