2. 1
Anadarko Petroleum Corporation
One of the World’s Largest
Independent Oil and Natural Gas
Exploration and Production
Companies
2.3 BBOE of Proved Reserves
at Year-end 2009
Produce Approximately 575,000 barrels
of oil equivalent per day
Total Assets of Approximately $48
Billion at Year-end 2008
Presented with the “Independent
Player in Africa” Award for our
Activity in North, West & East Africa at
the 2009 Africa Upstream Conference
in Cape Town
3. 2
Exploration and production is our business –
our only business. We don’t operate
refineries or gasoline stations.
Anadarko is an industry leader in adding new
reserves through the exploration drilling.
2
Anadarko Petroleum Corporation
4. 3
Technology is a Strong Suit
Subsalt Exploration Expertise
Unconventional Resource Expertise
Seismic Imaging
Spar Technology
FPSO Experience
5. 4
Committed to Safety & Environment
When Undertaking a New
Project, We:
Attempt to understand the
environmental issues and cultural
considerations of an area
Create a balanced plan to protect the
locations in which we operate
Adhere to the stricter of two standards:
our own policies and principles or an
individual country’s regulations
A Safety-First Culture is a
Way of Life at Anadarko
6. 5
Giving Back to the Community
Anadarko is Committed to Being an Integral Part of the
Communities Where We Live and Work.
Our employees find personal energy to lend a
helping hand to participate and organize
projects for specific needs in our
communities. Our volunteers partner with
Habitat for Humanity to build homes for those
in need in the U.S., construct libraries for
elementary schools in China and provide
training in local handicrafts to women in the
Southern Sahara.
7. 6
Focused Exploration in High-Potential Basins
Early Entry with Material Acreage Positions
Technically Driven with Commercial Mindset
Success De-Risks Inventory
GULF OF MEXICO
• Pliocene/Miocene
• Lower Tertiary
• ~3 MM Gross Acres
BRAZIL
• Pre-Salt
• ~1 MM Gross Acres
WEST AFRICA
• Cretaceous Fan
• ~8 MM Gross Acres
EAST AFRICA
• Tertiary/Cretaceous
• ~14 MM Gross Acres
SE ASIA
• Tertiary
• ~7 MM Gross Acres
NEW ZEALAND
• Cretaceous
• ~9 MM Gross Acres
March 2010
8. 7
High-Graded Asset Base
ALASKA
U.S. ONSHORE
DEEPWATER
GOM
BRAZIL
ALGERIA
CHINA
WEST AFRICA
MOZAMBIQUE
INDONESIA
EXPLORATION
GAS PRODUCTION
OIL PRODUCTION
PRODUCTION
RESERVES
Depth, Balance and Resiliency
NEW ZEALAND
9. 8
U.S. Onshore Natural Gas
Top 5 U.S. Onshore Natural Gas Producer
Focus on Margins and Efficiencies
Control of Midstream Infrastructure
Production and Reserve Growth Flexibility
Low-Risk, Multi-Tcfe Resource Base
Adding to Position With Emerging Resource Plays
Commercial Focus with Competitive Edge
POWDER RIVER
GNB
WATTENBERG
GREEN RIVER
CHALK
CARTHAGE
BOSSIER
EXPLORATION ACTIVITY
MARCELLUS
30+ Tcfe Gross Unrisked
EAGLEFORD
~6 Tcfe Gross Unrisked
HAYNESVILLE
~9 Tcfe Gross Unrisked
YE08 Reserves 10.2 Tcfe
Net Lower-Risk Captured Resources 19+ Tcfe
3Q09 Net Sales 2.2 Bcfe/d
Net Acreage ~15 Million
10. 9
APC INTERESTS
NANSEN
BOOMVANG GUNNISON
CONGER
BALDPATE
RED HAWK
TAHITI
CONSTITUTION
NEPTUNE
POMPANO
BLIND FAITH
INDEPENDENCE HUB
SHENANDOAH
CAESAR / TONGA
DEVELOPMENT
HEIDELBERG
POWER PLAY
Gulf of Mexico
Acreage: Average 64% WI in 596 Blocks
Track Record: Ownership in 26 Producing Fields
Infrastructure: 11 Hubs and 27 Subsea Systems
Project-Management Skills: Industry Leader
Robust Development Pipeline: New Development and
Discoveries
Premier Deepwater Position
2009 APC DISCOVERIES
YE08 Reserves 0.3 BBOE
Net Lower-Risk Captured Resources 0.6 BBOE
3Q09 Net Sales 162 MBOE/d
Net Acreage ~2 Million
SAMURAI
K2 COMPLEX
VITO
LUCIUS
12. 11
On Time, On Budget Delivery
Pompano
1,300 ft
Baldpate
1,650 ft
Neptune
1,930 ft
Gunnison
3,149 ft
Boomvang
3,453 ft
Nansen
3,678 ft Marco Polo
4,300 ft
Constitution
4,970 ft
Red Hawk
5,300 ft
Blind Faith
6,490 ft
Independence Hub
8,000 ft
Average Range of
UIBC Companies
2007 2008
2006
Low Cost
Fast
Performance
Anadarko is Faster and Lower Cost
2009
FPSO Subsea System
14. 13
Concession Areas
Gross Acreage: 6.4 Million
Gross Acreage: 6.4 Million
Mnazi Bay
Gas Field
Mnazi Bay
Gas Field
ONSHORE BLOCK
APC Operator 35.7%
ENH – 15%
Artumas WI 49.3%
ONSHORE BLOCK
APC Operator 35.7%
ENH – 15%
Artumas WI 49.3%
OFFSHORE AREA 1
APC Operator WI 36.5%
ENH – 15%
Mitsui WI 20%
Bharat / Videocon WI 20%
Artumas 8.5%
OFFSHORE AREA 1
APC Operator WI 36.5%
ENH – 15%
Mitsui WI 20%
Bharat / Videocon WI 20%
Artumas 8.5%
0 20
Kilometers
0 20
Kilometers
RovumaOnshore
Block
Rovuma
Rovuma Onshore
Onshore
Block
Block
Anadarko Mozambique Exploration
RovumaOffshore
Area 1
Rovuma
Rovuma Offshore
Offshore
Area 1
Area 1
OFFSHORE AREA 1
AMA1 Operator WI 36.5%
ENH – 15%
Mitsui – 20%
BPRL/Videocon – 20%
Cove – 8.5%
ONSHORE BLOCK
AMA1 Operator WI 35.7%
ENH – 15%
Artumas – 15.3%
Maurel & Prom – 24 %
Cove – 10%
15. 14
Offshore Work Program Commitment
Rovuma Offshore Area 1
First Exploration Period (5 years)
• Re-process 1,000 km existing 2D seismic
• Re-interpret 5,150 km of existing 2D seismic
• Acquire minimum of 1,000 km of 2D seismic
• Acquire a minimum of 3,000 km2 of 3D seismic
• Drill 7 Exploration Wells
– 4 in deep water (> 200 m water depth)
» Discovery with first well (Windjammer)
» Currently drilling second well (Collier)
» Final commitment wells to be drilled in 2010
– 3 in shallow water (< 200 m water depth)
• Minimum work program expenditure - $268MM
– Current estimated expenditure > $700MM
16. 15
Offshore Work Program Commitment
Rovuma Offshore Area 1
Second Exploration Period (3 years)
• Election to be made by end of 2011
• Acquire a minimum of 2,000 km2 of 3D seismic
• Drill 4 Exploration Wells
• Minimum expenditure $195MM
17. 16
Onshore Work Program Commitment
Onshore Rovuma Block
Assumed Operatorship from Artumas 1/1/09
First Exploration Period (3 years)
• Acquire minimum of 250 km of 2D seismic
• Drill one exploration well to a depth of 3505m
• Minimum expenditure $20MM
– Actual expenditure > $80MM
Second Exploration Period (3 years)
• Election to be made by 1 September 2010
• Acquire minimum of 100 km2 of 3D seismic
• Drill one exploration well
Third Exploration Period (2 years)
• Drill one exploration well
√
√
18. 17
Mozambique Exploration Phase I Timeline
2009 2010
2007 2008
Offshore Area
1 concession
awarded
2D deep
water
seismic
program
2D Reprocessing
Project
3D seismic
Area 1
2D shallow
water seismic
program
2011 2012
Area 1 Phase I
Expiration
Onshore
Block well Shallow water
wells (3)
Deep water
wells (4)
Onshore
Block
Phase I
Expiration
1st Exploration Phase
Offshore Area 1: Guarantee $268MM / Expect to Spend $738MM
Onshore Block: Guarantee $ 20MM / Expect to Spend $87MM
2D seismic
onshore
Potential
Appraisal drilling
TODAY
Onshore
Rovuma
concession
awarded
19. 18
Mozambique Project Evolution
2007 Signed EPC’s
Existing Database
• 2475 km on Area 1
•1460 km 2D Onshore
•Data from 2 Onshore
Wells
2009
Data Acquisition
• 2000 km 2D
<50m WD
• 2900 km 2D
>50m WD
2008
Data Acquisition
• 3300 sq km 3D,
largest proprietary
APC 3D
• 465 Km 2D
deepwater
• 642 km 2D land
areas
• Traded for data from
3
Mnazi Bay wells
Mnazi-1
Mocimboa-1
Mocimboa-1
Mnazi-1
Q2 2009 - 2010
Drilling
• 4 Deep Water
Wells
• Onshore Well
20. 19
DATA: SEISMIC ACQUISITION
Marine Acquisition Rovuma Area 1 2008 & 2009
Marine Acquisition in Mozambique
S/V Munin Explorer
2D Deep Marine
S/V Challenger
3D Deep Marine
S/V Geo Mariner
2D Shallow Marine
Air bubble
Streamer
25. 24
Windjammer Discovery
Drilled in 1465m Water
Depth
Total Depth 5161m below
sea level (SS)
Discovered Natural Gas
in two zone
Oligocene at 3200mSS
• 146m of natural gas pay
Paleocene at 4975mSS
• 23m of natural gas pay
Ranked #1 most
important discovery
worldwide to date in 2010
by IHS
26. 25
Rovuma Delta – First 2 Discoveries
Well penetrations at 4
localities
2 discoveries
Windjammer – Mozambique
Mnazi Bay - Tanzania
Proven source
Age?
Distribution?
Character?
Future discoveries?
Oil/gas distribution?
Areal extent?
Rovuma Delta Today
Oil Field
Gas Field
Mnazi Bay
Windjammer
28. 27
Analog Deltas
Niger Delta Exploration Wells
Number of wells: 1407
1938 - Present
Niger Delta Exploration Wells: Success
Number of wells: 793
Success rate: 56%
Niger Delta Exploration Wells: Failure
Number of wells: 614
Failure rate: 44%
>60 Billion barrels of oil equivalent
Risk versus Reward
29. 28
2010 Work Program
Complete deep water exploration drilling commitment
Integrate well data and seismic data
Evaluate development options for gas and oil (if
discovered)
Consider possible appraisal/testing in 2011
Election on Phase II exploration program Rovuma
Onshore Block
30. 29
Final Remarks
Windjammer an important discovery
Confirms there is hydrocarbon potential in the
Rovuma Basin deep water areas
Still early in the Exploration Phase
Developing remote gas reserves is a long process;
likely:
Will require an LNG Project
Will require threshold reserves
Will require appraisal of resources
Will require a long-term LNG contract
Will require FNLG or shore-based liquefaction plant
We are still exploring for Liquids!