Oil & Natural Gas Corp. to pay $2.6B for Anadarko asset

|About: Anadarko Petroleum Corporation (APC)|By:, SA News Editor

India's Oil & Natural Gas Corp. is set to pay $2.6B to acquire a 10% stake in an offshore Mozambique gas field from Anadarko (APC), Bloomberg says, citing people "with direct knowledge of the matter."

The deal is expected to be announced at any time and is part of Oil & Natural Gas Corp.'s plan to spend some $172B over the next 17 or so years to replace declining domestic output.