About Afren
Afren's Business Model
Preferential access
The management team has a track record in Africa, deep rooted knowledge in the countries of operation and access to attractive deal flow through key relationships.
A partner of choice
Afren's exclusive African focus and the distinctive African character of Afren's management team position the Company as a partner of choice for indigenous companies, African National Oil Companies and Governments.
Rapid portfolio expansion - Focus on development and production
Since the Company's listing on the AIM market in 2005, with a single asset in Block 1 of the Joint Development Zone, Afren has expanded its portfolio to sixteen assets in seven African countries.
Afren recently reached the First Oil milestone from the Okoro Setu project remaining on track to achieve full production of 15,000 bopd in 2008. In April 2008, the Company also entered into a farm in agreement to develop the Ebok field in Nigeria, which was awarded to indigenous partner Oriental Energy by the ExxonMobil/NNPC Joint Venture.
Afren will continue to pursue opportunities for portfolio growth from access to undeveloped assets within the Major's portfolios in Nigeria.
A balanced exploration portfolio
Afren has built a high quality and focused exploration inventory across several proved hydrocarbon provinces, notably Ghana, Congo, Gabon and Angola.
Solution for gas monetisation
With the increasing importance and development of natural gas as a global energy commodity, a key differentiator is Afren's strategy to acquire and monetise gas assets across the Gulf of Guinea. Consistent with this strategy, Afren has signed a cooperation agreement with German utility E.ON Ruhrgas. This agreement envisages that the partners will jointly develop, gather and monetise Nigeria's vast untapped gas resources for domestic and export purposes in line with the Nigerian Government's 2008 Gas Master Plan.
Corporate governance
Afren is committed to the highest standards of corporate governance, transparency and fair dealing and will comply with all applicable laws and rules.
