Anadarko’s 2003 budget includes $63 million for Alaska

Petroleum News Alaska Staff

Anadarko Petroleum Corp. has carved $63 million from its announced $2.3 billion 2003 capital budget for exploration and development work in Alaska, the company said at the end of January.

Anadarko said it plans to test two North Slope prospects this year, including a possible satellite near the Alpine field and another well in the National Petroleum Reserve-Alaska. A portion of the budget will go to paying the company's share of 16 development wells at Alpine, the company said.

The Houston, Texas-based independent also said it plans to invest in 400 square miles of 3-D seismic surveys north and south of Alpine and 300 square miles of 2-D seismic in the North Slope Foothills region.

Of the total budget, Anadarko has allocated $1.5 billion to worldwide development projects, primarily for fields in the Gulf of Mexico, Western Canada, East and Central Texas, North Louisiana and Wyoming.

About $381 million is earmarked for exploration in North America, the Middle East, North and West Africa and Australia. The overall budget also includes $107 million for infrastructure and other construction projects and $337 million for capitalized interest and overhead.