Afren, Sojitz alliance to seek acquisitions in Africa

Afren has entered into a strategic alliance with Sojitz Corp. to jointly pursue significant acquisition opportunities in Africa.

Offshore staff

LONDON -- Afren has entered into a strategic alliance with Sojitz Corp. to jointly pursue significant acquisition opportunities in Africa.

The Strategic Alliance will run for an initial period of three years. Afren will identify material and strategic assets which it believes should be acquired by the parties and as appropriate. Sojitz will provide financial support to the strategic alliance.

As part of the agreement, Hiroshi Kanematsu (president of the energy and mineral resources division and senior executive managing officer of Sojitz) will join Afren's international advisory board.

10/09/2008

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