HONG KONG Nov 4 Anadarko Petroleum Corp
is considering the sale of its holdings in oil and gas projects
in China, in a deal that could be valued at about $1 billion,
sources familiar with the matter told Reuters.
Anadarko owns about a 35 percent interest in production and
development projects in China's Bohai Bay. The planned sale is
part of Houston-based Anadarko's strategy to raise cash to
plough money back into gas properties in the United States.
Last year, it transferred day-to-day operations of the
projects to its joint venture partner CNOOC Ltd as
part of an earlier agreement.
The sources declined to be identified as they were not
authorised to speak to media.
Anadarko declined to comment.