Offshore staff

Anadarko Petroleum Corp. announced that its deepwater Genghis Khan well in Green Canyon block 652 in 4,000 ft of water in the Gulf of Mexico (GoM) is a discovery. Open-hole logs indicating about 110 ft of high quality net oil pay in the lower Miocene formation and apparent additional pay uphole in the middle Miocene section. First production is expected in 2006 through subsea tieback to the Marco Polo platform, located 2.4 miles from the discovery.

Anadarko drilled the discovery to 26,000 ft TD in approximately half the time originally forecast. The company is planned a delineation well. Anadarko has a 100% working interest in the block.

"Our deepwater GoM program is set to be the largest single contributor to Anadarko's growth strategy over the next four years," says Robert Daniels, senior vice president exploration and production. "Having the Marco Polo facility available to produce the Genghis Khan discovery greatly enhances the project's returns, both by accelerating the development plan and leveraging off existing assets."

Other Anadarko discoveries in the Green Canyon area are the Marco Polo field, which came online July 2004, and the K2 and K2 North fields, which will both begin production through the Marco Polo platform in mid 2005. Anadarko has a 100% working interest in the Marco Polo and K2 North fields and a 52.5% interest in the K2 field.

Anadarko plans to drill six more exploration wells in the GoM this year. The company owns an average 73% interest in 230 blocks in the GoM.

04-27-05