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Afren enters into a co-operation agreement with E.ON Ruhrgas AG and African LNG Holdings

Source: www.gulfoilandgas.com 1/22/2008, Location: Africa

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Afren announced that it has entered into a co-operation agreement with E.ON Ruhrgas AG and African LNG Holdings Limited. The Board of Afren is delighted to announce that the Company has signed a co-operation agreement (“the Agreement”) with E.ON Ruhrgas AG (“E.ON Ruhrgas”) and African LNG Holdings Limited (“African LNG”) to investigate the availability and accessibility of gas in Nigeria, with a focus on the Anambra Basin and South Eastern regions. The parties have the intention to jointly develop, collect and monetize the gas for domestic and export purposes in line with the Nigerian Government’s Gas Master Plan.

The Agreement includes an analysis of potential feedgas, based on an identified target list of upstream gas rich assets and a study of gas gathering infrastructure and potential LNG export solutions. The parties will subsequently decide on jointly establishing corporate structures and funding arrangements.

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