Anadarko's race against time over Golfinho
Anadarko needs to find buyers for its gas on the double to be able to finance its LNG plant. [...]
Gas was not explored to its full potential in Africa until recently. Now, especially in its liquefied form, it has enabled several African countries stake a claim for themselves on the global energy market. Gas production requires hefty infrastructure, forcing states to undertake extensive work, part of which is sub-contracted to local industry. This gives politically-connected companies an opportunity to cut themselves a sizeable chunk of these mega-contracts.
Mindful of the findings of a working group set up to brainstorm on the sector's future and comprised of representatives of several majors, the regime has decided to make several key legislative changes, all of which benefit the oil & gas firms. [...]
Two years after the vast call for tenders launched with great pomp by the Instituto Nacional de Petroleo (INP), the majors that had been awarded a block have become completely disillusioned with the whole affair. The talks have led nowhwere [...]