Anadarko Petroleum Corporation to Invest in 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 $200 million at its Salt Creek EOR project in Wyoming. Anadarko plans to construct a 125 mile 16" diameter CO2 pipeline from the Barrel Wyoming area to Salt Creek.

The $27 million pipeline will have an initial capacity of 125 mmcfd and will be ramped up with the field production to a capacity of 290 mmcfd of CO2. The rest of the capital will be spent at Salt Creek itself developing new infrastructure such as recycle compression. Anadarko expects to begin construction in mid July of 2003 and will complete this phase in early 2004. Several further phases are being planned and will be completed by the end of 2006. When the Salt Creek EOR project is completed Anadarko expects it will add another 150 million barrels of reserves to its asset sheet.

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.