Anadarko Petroleum Corporation to Invest in Second Wyoming EOR Project

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). Anadarko Petroleum Corporation (NYSE:APC) (Houston Texas) is continuing with plans to invest its $100 million Sweetwater EOR project near Rock Springs, Wyoming. Anadarko expects to rework or redrill over 120 production and injection wells, as well as constructs a new 33-mile 8" diameter pipeline with a capacity of 70mmscfd of CO2 to be supplied by ExxonMobil to maintain field pressure.

Anadarko has already ordered the pipe and expects to begin construction in mid-to-late 2003. When complete the Sweetwater project will produce 15,000-20,000 barrels of crude oil per day. Anadarko will also begin construction on its $200 million Salt Creek EOR project in Wyoming in 2003 and is studying a similar EOR project in Canada.

Anadarko Petroleum Corporation is one of the world's largest independent oil & gas exploration and production companies with assets worth over $17 billion and operations in the US, Canada, Algeria and Qatar. Anadarko has set production targets of 203 million BOE in 2003 and 225 million BOE in 2004 and has reserves of 2.3 billion BOE.