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Anadarko, Dhoot selling 20% of Mozambique gas block for $4.5 billion

HOUSTON -- U.S. oil-and-gas explorer Anadarko Petroleum Corp. and Indian billionaire Venugopal Dhoot will auction off 20% of a Mozambique gas field, Reuters news agency reported on its website Tuesday citing unnamed sources.

The sale could be worth $4.5 billion, the report said citing the sources who are familiar with the matter.

PetroChina and Exxon Mobil Corp. are among those expected to bid, the report said citing the sources. Royal Dutch Shell is also looking, the report added.

First-round bids are due on March 14 after an information memorandum on the sale was sent to potential bidders in early February, the report quoted one of the sources saying.

Anadarko said last month it is looking to sell a 10 percent of the block--taking its stake to 26.5 percent.

Mr. Dhoot, who controls electronics conglomerate Videocon Group, wants about $2.5-$3 billion for 10%. Mr. Dhoot paid $75 million for his 10% Rovuma 1 stake in 2008.

Dow Jones Newswires



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