Nigeria success sees Afren beat oil production target

Afren, the West Africa-focused oil company, says ramped-up production at its largest field is helping it pump more oil than previously forecast.

The London-listed firm said yesterday that its wholly owned Ebok field, offshore Nigeria, is producing 40,000 barrels of oil equivalent a day. That means Afren is averaging a net daily rate of about 55,400 barrels, 10 per cent above its 50,000 target for the current period.

Chief executive Osman Shahenshah said wells drilled as part of the initial phases of the Ebok field development marked one of the quickest independent developments of its scale in Nigeria.

The firm now plans to embark on an extensive exploration and appraisal drilling campaign across the east and west of Africa as well as the Kurdistan region of Iraq. Shahenshah said it has the potential “to materially transform and increase our discovered resource base.”