Eritrea Exploration Update
Anadarko also reported today that its second exploration well offshore Eritrea was unsuccessful. The Du Rig-Rig No. 1 well was drilled to a total depth of 2,200 meters on the Zula Block in the Red Sea. Anadarko recorded a noncash charge in the fourth quarter of 1998 related to the two dry holes drilled on the Zula Block. The venture's third exploration well, the Edd No. 1 well located on the Edd Block, began drilling on January 16, 1999. Anadarko serves as operator and holds a 50% interest in both the Zula and Edd concessions. The remaining interests are held by Agip Eritrea B.V. with 30% and Burlington Resources with 20%.