Cove’s high-profile asset is a stake in Anadarko Petroleum’s prolific Offshore Area 1 gas play in Mozambique.
The supermajor’s move is a surprise because most analysts had expected Cove’s small 8.5% interest in Area 1 would only interest Asian players.
As a result, industry sources now suggest Shell will likely further boost its stake in Area 1 by perhaps acquiring some of Anadarko’s operating interest, which the US player has hinted at offloading.
This
