Anadarko Announces Finance Management Changes.

HOUSTON -- Anadarko Petroleum Corporation (NYSE:APC) today announced changes in its finance organization.

Albert L. Richey has been appointed Vice President, Corporate Development, and will cede the position of Vice President and Treasurer to Robert G. Gwin on Jan. 16. Also, David R. Larson, Vice President of Investor Relations, has been given the added responsibility of leading the financial planning function. All three officers will report to Al Walker, Senior Vice President, Finance and Chief Financial Officer.

Richey joined Anadarko in 1987 as Manager of Treasury Operations. He was named Treasurer later that year and was named Vice President in 1995. Prior to joining Anadarko, Richey held corporate planning, finance and treasury positions with three oil and gas companies, beginning in 1974. Reporting to Richey will be Lance Lauck, General Manager, Corporate Development and Jerry Windlinger, General Manager, US Business Development.

Gwin brings to Anadarko more than 20 years of experience from a variety of leadership roles in corporate finance and executive management, most recently having served as CEO of Community Broadband Ventures, LP in Austin. Earlier in his career, Gwin spent more than 10 years at Prudential Capital Group in merchant banking roles of increasing responsibility, including serving as Managing Director for the firm's energy investments worldwide. He is a Chartered Financial Analyst, has a strong track record in structured finance and has worked on numerous debt and equity finance projects around the world.

Larson joined Union Pacific Corporation (UPC) in 1980 as a corporate auditor. Three years later he moved to the UPC oil and gas subsidiary and spent time working in the planning, corporate development and minerals departments. In 1998, he joined the investor relations department at Union Pacific Resources (UPR), which merged with Anadarko in 2000. He was assigned the leadership role for Anadarko's investor relations department in November 2003. By combining investor relations and financial planning under Larson, Anadarko will seek to enhance its communications to the investment sector through greater integration with its short-term financial planning function. Joining the existing investor relations team will be John Colglazier as Manager, Investor Relations.

"I am very pleased to announce these changes to the finance organization at Anadarko as we enter 2006, and expect that Al, Bob and David will be very effective in helping us achieve our objectives," Walker said. "Al will be leading two business development functions that were previously managed separately, allowing us to more effectively achieve our growth objectives. We expect the changes in investor relations and financial planning to make us even better in working with the investment community. I am delighted Bob Gwin is joining Anadarko and, having known him for more than 15 years, I know he will be an excellent addition to our management group."

Anadarko Petroleum Corporation's mission is to deliver a competitive and sustainable rate of return to shareholders by developing, acquiring and exploring for oil and gas resources vital to the world's health and welfare. As of year-end 2004, the company had 2.37 billion BOE of proved reserves, making it one of the world's largest independent exploration and production companies. Anadarko's operational focus in North America extends from the deepwater Gulf of Mexico, up through the Canadian Rockies and onto the North Slope of Alaska. Anadarko's international operations are focused on its major positions in Algeria, Venezuela and Qatar, and exploration or production operations in several other countries. For more information about how Anadarko is bringing excellence to the surface, please visit: www.anadarko.com.