Anadarko: Notified BP Company Is Withholding Oil-Spill Payment

9th Jul 2010 17:01

HOUSTON (Dow Jones)--Anadarko Petroleum Corp. (APC) said Friday it is withholding reimbursement payments to BP PLC (BP, BP.LN) for expenses related to the massive oil spill in the Gulf of Mexico and that it has already notified its partner about its decision. "We have notified BP that we are withholding reimbursement to BP at this time," Anadarko's spokesman John Christiansen said in an emailed statement. Anadarko, however, said it is working with BP "in good faith," to try to reach a resolution. Anadarko, which owns a 25% interest in the BP-operated Macondo well that has been spewing oil into the Gulf for almost three months, received in early June a bill from BP for part of the spill expenses. Also that month, Anadarko Chief Executive Jim Hackett called the oil spill in the Gulf of Mexico "preventable and the direct result of BP's reckless decision and actions," allegations that BP rejected. The Houston-based company has said its operating agreement with BP for development of the Macondo well contains a clause that could limit Anadarko's liability if misconduct or gross negligence of the operator, BP, is proved. -By Isabel Ordonez, Dow Jones Newswires; 713-314-6090; [email protected] (END) Dow Jones Newswires July 09, 2010 12:01 ET (16:01 GMT)