Anadarko (APC) Announces Final Approval of Amendment to PSA with Sonatrach

Anadarko Petroleum Corporation (NYSE: APC) today announced the Algerian government has given final approval to an amendment to Anadarko's production sharing agreement (PSA) with Sonatrach, pursuant to the previously announced exceptional profits tax (TPE) settlement. As a result, the settlement agreement is now fully effective, and this final approval brings closure to the TPE dispute.

Anadarko will record a gain in the first quarter to reflect the partial recoupment of past TPE. Further, Anadarko will provide updated 2012 financial and operational guidance in its first-quarter 2012 earnings news release, reflecting the effects of the settlement agreement and contractual amendment.

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