The firm is also reducing spending on new wells and other projects by almost 50% to face the crude market collapse.
In particular, Anadarko’s onshore activities in the US will be reduced by almost $2.5bn as well as onshore rig count by 80% to five.
Anadarko chairman, president and CEO Al Walker said: "In 2016, we will continue our disciplined and focused approach, preserving and building value by leveraging our best-in-class capital allocation, enhancing operational efficiencies and continuing an active monetization program.
"We are committed to again investing well within cash inflows from a combination of anticipated discretionary cash flow and our ongoing monetizations, with the expectation of also reducing net debt during the year.
Anadarko expects capital expenditures to be around $2.6bn to $2.8bn in 2016, which is almost 50% less when compared with last year level.
Walker added: "As we announced last week, we have already closed or announced monetizations totaling approximately $1.3bn, and we expect our cash position to be further strengthened during the year through substantial cost reductions and additional identified monetization opportunities."
Recently, the firm announced it has reduced its dividend by 81% to save about $450m a year.
