Anadarko’s Algerian InvestmentJohn Broman, Vice President International Operations

Anadarko Petroleum Corporation

10 December 2014

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Cautionary Language

This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Anadarko believes that its expectations are based on reasonable assumptions. No assurance, however, can be given that such expectations will prove to have been correct. A number of factors could cause actual results to differ materially from the projections, anticipated results, or other expectations expressed in this presentation, including Anadarko’s ability to timely complete and commercially operate the projects and drilling prospects identified in this presentation. See “Risk Factors” in the company’s 2013 Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other public filings and press releases. Anadarko undertakes no obligation to publicly update or revise any forward-looking statements.

Please also see our website at www.anadarko.com under “Investor Relations” for reconciliations of the differences between any non-GAAP measure used in this presentation and the most directly comparable GAAP financial measures. 

Cautionary Note to Investors: The United States Securities and Exchange Commission (“SEC”) permits oil and gas companies, in their filings with the SEC, to disclose only proved, probable and possible reserves that meet the SEC’s definitions for such terms. Anadarko uses certain terms in this news release, such as “gross recoverable resources” and similar terms that the SEC’s guidelines strictly prohibit Anadarko from including in filings with the SEC. U.S. investors are urged to consider closely the disclosure in Anadarko’s Form 10-K for the year ended Dec. 31, 2013, File No. 001-08968, available from Anadarko at www.anadarko.com or by writing Anadarko at: Anadarko Petroleum Corporation, 1201 Lake Robbins Drive, The Woodlands, Texas 77380, Attn: Investor Relations. This form may also be obtained by contacting the SEC at 1-800-SEC-0330.

Regarding Forward Looking Statements and Other Matters

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Among the world’s largest independent oil and natural gas E&P companies with production rates of ~850,000 bbls of oil equivalent per day

Active in 12+ countries with 6,000+ employees worldwide

The 3rd largest natural gas producer in the US and a leader in unconventional resource development

Recognised for best-in-class in deepwater exploration and appraisal success

An industry leader in project management

Anadarko is …

Production

Exploration and Appraisal

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Discovered 16 fields

Three major development projects in the Sahara Desert: Hassi Berkine Sud, Ourhoud, El Merk

Produced 1.9+ billion bbls of oil to date

Peak production rates of 500,000+ bbl per day

Current production rates of ~400,000 bbl per day

Sonatrach and Anadarko: A Successful Partnership

A Long and Successful History in Algeria

First visit to Algeria in 1986

Seismic acquisition began in 1990

First discovery (El Merk) in 1993

HBN field discovered in 1994

Ourhoud field discovered in 1994

HBNS field discovered in 1995

First Oil from HBNS 1998

First Oil from Ourhoud in 2002

First Oil from El Merk in 2013

First Visit to Algeria Ourhoud First Oil

Contract Negotiations Begin

HBN-1 Discovery

1st Discovery - EMK-1 El Merk First OilHBNS First Oil

HBNS-1 Discovery

Seismic AcquisitionBegins HBNS Facility

ConstructionBegins

PSA ContractSigned

Ourhoud Discovery

El Merk FacilityConstruction Begins

Exploration Phase

1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Exploration Phase

Construction Phase

Production Phase

Construction Phase

Multi-billion dollar capital investments

Groupement Berkine procurement of Algerian goods and services

Employment and technical training of local Algerian staff

Technology transfer

Social investment in training and education

Anadarko’s Investments in Algeria

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Hydrocarbon law changes generally positive

Finance and importation regulations could be simplified

Foreign currency regulations could have adverse effects on investments and new developments

Industry would welcome more consultation and input on new regulations and implementation

Sonatrach instrumental in navigating through the complexities

Regulatory Environment

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Industry would be receptive to new opportunities

Knowledgeable, educated workforce

Large job creation potential

Changing skill sets required will create opportunities for the training sector

Service sector growth and competition

Future Opportunities

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Complex and challenging environment, but investment opportunities can be beneficial for both foreign investors and Algeria

Knowledgeable Algerian partner can help navigate through the complexities

Anadarko has a successful 25+ year relationship working with Sonatrach and investing in Algeria

Summary