Afren: First Oil Flows from Okoro Field Extension (Nigeria)

First oil has started flowing from Afren plc’s Okoro Field Extension, offshore south east Nigeria, at a stabilised rate of 5,000 bopd of 38° API oil, increasing total output from the Okoro area to approximately 21,500 bopd.

The Okoro-14 (Okoro Field Extension) development well was drilled by Afren and partner Amni International Petroleum Development Company Ltd. (“Amni”) from the existing Okoro main field wellhead platform (“WHP”), with the objective of establishing early production from the new field extension that was announced in January 2012. The well targeted Tertiary aged reservoir sands within a new play comprising a deeper buried horst block structure. The well has been completed and brought onstream via the existing Okoro floating production storage offloading vessel (“FPSO”) at a stabilised rate of 5,000 bopd of 38° API oil, making it the most productive well drilled in the Okoro area to date. The Adriatic IX drilling rig has now been relocated to the Ebok field in order to undertake planned rig-based work, which includes the drilling of a development well to similarly establish early production from the Ebok North Fault Block discovery that was announced in May 2012.

Osman Shahenshah, Chief Executive of Afren, commented:

“I am delighted that we have commenced early production at the Okoro Field Extension, just nine months after the initial discovery. This is clear evidence that we are creating tangible value and volume growth from our ongoing exploration drilling campaign, and further testament to the Afren team’s fast track development capabilities. Not only will we see an outstanding economic return from early development wells that utilise existing infrastructure, but we will also gain valuable production experience and reservoir data that will assist in optimising the full field development solution. We are looking to replicate this early production template at the Ebok North Fault Block discovery as we work towards realising the full production potential of our high quality Nigerian asset base.

[mappress]
Press Release, October 31, 2012