Offshore staff

LONDON -- Afren Plc. and partner Amni International Petroleum Development Co. have signed a contract for an FPSO for the Okoro Setu project offshore Nigeria. The Armada Perkasa is expected to begin production from Okoro Setu in early 2008.

The FPSO is owned and operated by Bumi Armada Berhad, an FPSO marine operator and part of Malaysia's Usaha Tegas group. The vessel has a storage capacity of 360,000 bbl with a processing capacity of 27,000 b/d of oil. TheArmada Perkasa will be leased to the Okoro Setu project over a fixed five-year period.

Following appraisal drilling, which was completed in December 2006, Afren put in place the drilling capability, financing structure, development plan, and now the production capacity for the Okoro Setu project to achieve the production target of 15,000-20,000 b/d of oil in early 2008.

GlobalSantaFe'sAdriatic VI jackup will begin a nine-month development drilling program in Q3 2007.

"It is testament to the strength of Afren's management and technical team and its close working relationship with AMNI, its indigenous partner, that in less than a year since agreeing its involvement in the project the company is now fully prepared and well positioned to commence production from the Okoro Setu project in early 2008," says Osman Shahenshah, chief executive of Afren.

4/17/2007