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Afren Announces First Oil From Okoro Setu Offshore Nigeria
06-11-2008
Afren plc and its partner Amni
International Petroleum Development Company announce first oil from the flagship
Okoro Setu Project, located in OML 112, in shallow water offshore Nigeria.
Osman Shahenshah, Chief Executive of Afren,
commented:
“I am delighted that Afren has achieved its first organic production, a key
milestone in the Company’s history that underlines its operational strengths and
technical capabilities.
“We have worked in close cooperation with our indigenous partner AMNI
International Petroleum Development Company and it is testament to our
relationship that we have delivered First Oil in just two years since announcing
the agreement to develop the Okoro Setu Project. We look forward to accelerating
the development of further undeveloped reserves in Nigeria together with our
indigenous partners.”
Sani Bello, Chairman of AMNI, commented:
“We are very pleased to have delivered First Oil on the Okoro Setu Project. This
is a significant achievement for the AMNI/Afren partnership and represents an
important contribution to the rapidly expanding indigenous oil & gas sector. ”
• In June 2006, Afren announced
the agreement signed with AMNI, a well established indigenous oil & gas company,
for participation in the development of the Okoro Setu Project.
• During 2007 the partners received approval of the Field Development Plan and
secured a Floating Production Storage and Offtake Vessel (“FPSO”).
• In Q1 2008, development drilling commenced from a subsea template using
Transocean’s Adriatic-6 jack-up rig. The
10-point fixed mooring system for the FPSO vessel was installed in January and
the Armada Perkasa arrived in March 2008 and was hooked up to the anchor system.
• In May 2008, the wellhead platform was installed and flowline connections are
progressing.
• Initial production from the first of two wells drilled to date has commenced
at a rate in excess of 3,000 barrels of oil per day (bopd) of 27º API gravity
oil, which is in line with expectations.
• The remaining wells will be batch drilled and the Company is on track to
achieve full production of 15,000 bopd in Q3 2008.
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