Afren Provides Operations Update at Tanga Block

Source: www.gulfoilandgas.com 1/21/2013, Location: Africa

Afren plc, issues the following trading statement and operations update, in advance of the Company’s 2012 full year results which are scheduled for release on 25 March 2013. Information contained within this release is un-audited and is subject to further review.

Commenting, Osman Shahenshah, Chief Executive of Afren plc, said:
“2012 saw record production and financial performance combined with significant exploration success in Nigeria and the Kurdistan region of Iraq. In 2013 we expect to further grow our reserves base through a multi-well exploration and appraisal drilling campaign in both established and new basins, while continuing to grow our production base. We are financially well positioned with robust cash flows, a strong balance sheet and the necessary financial capacity and flexibility to optimally explore and develop our high quality portfolio of growth opportunities well into the future. There is much to look forward to in 2013 and beyond.”

Tanga Block
Interpretation of the previously acquired 900 km 2D seismic data reinforced the Partners’ views that the prospectivity in the deeper water parts of the acreage represents a potentially lower geological risk exploration opportunity. A 550 km2 3D seismic survey has been completed in order to bring the deeper water prospectivity to equal technical maturity as the shallow water prospects in order to allow the Company to optimise the prospect selection process ahead of exploration drilling.

For more information about related Opportunities and Key Players visit East Africa Projects


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Related Categories: Formation Evaluation  General  Geological, Geophysical  Geophysical Contractors  Mud Logging  Reservoir Engineering & Recovery Methods  Seismic survey  Well Completion, Logging, Workover 

Related Articles: Formation Evaluation  General  Geological, Geophysical  Geophysical Contractors  Mud Logging  Reservoir Engineering & Recovery Methods  Seismic survey  Well Completion, Logging, Workover 


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