FT Energy News 15 December

BP nearer target after $77m sale of Pakistan assets (Page 18)

BP’s asset sales this year have risen to almost $22bn after the UK oil group agreed to sell most of its exploration and production assets in Pakistan to United Energy Group for $775m.

Anadarko’s Jubilee party caps tough year (Page 23)

The Jubilee field in Ghana will produce its first oil today and will represent more than a boost in production for Anadarko Petroleum, it will validate the US independent oil group’s strategy to pursue international exploration even as its peers pulled back, it is among a handful seeking organic growth abroad. Anadarko says it expects production to rise by 7-9%, over the next five years, much of it from a string of oil discoveries off the west African coast. As 25% partner in BP’s Macondo well, Anadarko face between $5-$10bn in potential liabilities.

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