Anadarko Petroleum Corporation (NYSE: APC) is one of the largest independent oil and gas exploration and production companies in the world, with the nimbleness of an independent but the financial, technical and operational strength of a major oil and gas company.

Anadarko is the 10th-largest publicly traded oil and gas company in the world and ranked No. 232 on the 2002 ?Fortune 500? list. Fortune also named Anadarko the ?most-admired? company in its sector and No. 8 in employee talent among all companies in all industries in 2002.

What we do

Oil and gas exploration and production is our primary business. In 2001 we produced nearly 200 million barrels of oil equivalent (BOE) and reported year-end proved reserves of 2.3 billion BOE.

Global activity

Anadarko has activities in more than a dozen countries and employs a worldwide work force of about 3,500. The US, Western Canada and Algeria represent the majority of the company's proved reserves and production. The company recently began operating offshore Qatar, and it is exploring in several other new basins in North and West Africa, the Middle East, the Black Sea, Australia and the North Atlantic.

Focus internationally

Anadarko is the largest non-government oil producer in Algeria and together with state-owned Sonatrach has discovered more than 2 billion barrels of oil reserves in Algeria's Sahara Desert. Gross production from the fields Anadarko has discovered in Algeria is expected to reach 500,000 barrels a day by mid-2003. The company resumed exploration drilling in Algeria in 2002.

Anadarko is the newest operator in Qatar. As operator of the Al Rayyan oilfield, Anadarko is in the process of roughly tripling production capacity from that field. The company also is exploring additional acreage in both Qatar and in Oman, where the company has made a significant natural gas discovery.

Performance

Growth has been the defining characteristic of Anadarko's success, spanning more than four decades in business ? growth in production, reserves, earnings and cash flow per share ? all critical drivers of growth in shareholder value. Growth is achieved primarily through the drillbit, but we stay attuned to opportunities for profitable expansion through acquisitions, whether it's individual properties or entire companies.

Structured and project finance

Anadarko established a structured and project finance capability one year ago in response to the need to further fund its significant international growth and future capital commitments.

While principally an E&P company, Anadarko has interest in pursing complimentary businesses such as gas-to-liquids, liquefied natural gas and other integrated oil and gas opportunities where it can effectively leverage its historical upstream strengths and core technical competencies. The use of structured and project finance solutions in these areas will enable Anadarko to better manage its risks, while enhancing overall economic returns.

While a relative newcomer to structured and project finance, Anadarko believes that well-structured transactions using this finance technology  - affording complete transparency and full disclosure - will permit investment opportunities that may not otherwise be available to the company. Currently, Anadarko is considering project financing to fund a gas processing and pipeline project in Oman and certain other international activities.

For more information, contact Thomas W. Sloop, Head of Structured and Project Finance, Anadarko Petroleum Corporation, P.O. Box 1330, Houston, Texas, 77251-1330 / 832-636-7069 phone / 832-636-7077 fax / thomas_sloop@anadarko.com.