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Tuesday, March 5, 2013

RPT-Anadarko, Indian tycoon launch $4.5 billion Mozambique gas sale-sources, (NYSE: APC), (NYSE: RDS-B)

Anadarko Petroleum Corp and an Indian billionaire have launched the auction of a 20 percent stake in a Mozambique gas field that could fetch $4.5 billion, sources familiar with the matter told Reuters.The Rovuma offshore field is a hot property after recent discoveries boosted Mozambique's gas reserves to around 150 trillion cubic feet, enough to supply world number one importer Japan for 35 years. The east African country is expected to eventually compete with Australia and Qatar as a major provider of liquefied natural gas (LNG) to Asia.Last year Thai state oil company PTT Exploration and Production PCL trumped Royal Dutch Shell Plc in a hotly contested battle for Cove Energy Plc and its 8.5 percent of the field. The $1.9 billion price tag for Cove implies the stake now on offer could fetch about $4.5 billion.Indian tycoon Venugopal Dhoot, who controls consumer electronics to mobile-phone services conglomerate Videocon Group, is leading the process and has hired Standard Chartered and UBS to handle the sale, the sources added.

Anadarko Petroleum Corporation (Anadarko) is an independent exploration and production company. Shares of APC remained unchanged at $80.34. In the past year, the shares have traded as low as $56.42 and as high as $87.37. On average, 3211330 shares of APC exchange hands on a given day and today's volume is recorded at 0.

Shares of RDS-B remained unchanged at $67.93. In the past year, the shares have traded as low as $63.05 and as high as $76.13. On average, 946713 shares of RDS-B exchange hands on a given day and today's volume is recorded at 700.



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