Afren Boosts Stake in Promising Nigerian Play

摘要

UK-listed exploration and production play Afren announced Friday its second deal this year to increase its existing beneficial interest in single-license Nigerian affiliate First Hydrocarbon Nigeria (FHN), boosting its economic stake from the already-flagged 54.9% to 78.2% upon completion. The firm also has an option to further increase this to 90.7% after two years (IOD Mar.26'13). The move comes as FHN Chief Operating Officer Femi Bajomo tells International Oil Daily that compared to gross output from its 45%-held OML 26 license onshore the Niger Delta currently running at some 6,115 barrels of oil-equivalent per day, ongoing investment could see this rise to 10,000 boe/d by the end of the year and, potentially, to as much as 14,000 boe/d by mid-2014.