Offshore staff

(Lagos) Pan-African independent Afren has signed an agreement with Amni International Petroleum Development Co. to participate in development of the shallow water Okoro and Setu fields off Nigeria. Both are located in Oil Mining Lease 112, awarded to Amni in 1993 under the government's indigenous licensing program.

Amni last drilled Setu in 2002, encountering oil in five zones, with flow rates from 1,500 to 3,500 b/d. There were two discovery wells on Okoro during the 1970s; previous duty holder Mobil also acquired good quality 3D seismic. Financing terms have been agreed for the development of both fields, with up to seven production wells anticipated between this fall and 2008. Peak production should reach over 15,000 b/d.

06-03-06