Afren begins drilling at Ameena East

London-based Afren spudded the Ameena East prospect located in OML 115, offshore Nigeria with joint venture partner Oriental Energy Resources.

Afren workers at Ebok. From Afren.
 

The Ameena East-1 exploration well is targeting 65MMbbls of gross unrisked resources in Biafra sands below the regional basal Qua Iboe unconformity, equivalent to those at the Ebok and Okwok fields.

The Ameena East drilling campaign is set for completion next month using Shelf Drilling’s Adriatic I jackup rig.

The JV is also planning to begin drilling at the Ebok Deep exploration tail in 4Q 2014, targeting 50MMbbls of gross unrisked resources in the deeper Qua Iboe and Biafra reservoirs. 

Toby Hayward, who was named Afren interim chief executive after the company’s CEO and COO were suspended in July and ultimately fired in October, says that Afren is expecting to deliver strong production and cash flow growth in 2015 and beyond.

At the Ebok field, Afren installed the jacket for the Ebok Central Fault Block Extension (CFBx) platform. Installation of the decks and bridge is expected in early January 2015 after the wellhead jacket at Okwok has been installed.

Map of Ebok, Okwok & OML 115. From Afren.
 

According to Afren, the work program at the CFBx will include up to nine new wells to be drilled and brought onstream by the end of 2015, targeting both producing and undeveloped reservoirs.

The JV’s North Fault Block is targeting completion of the third new producer by mid-December, which will incorporate up to an additional five wells by the end of 2015.

Afren says it is on track to deliver full year net production at the lower end of guidance between 32,000 to 36,000b/d.

Last month, Afren fired its CEO Osman Shahenshah and COO Shahid Ullah for “gross misconduct” after completing an independent investigation into unauthorized payments. Results of the investigation by law firm Willkie Farr & Gallagher (UK) LLP (WFG),showed that all three transactions regarding Nigerian oil fields should have been reported to the market under listing rules. In addition, the WFG concluded that Shahenshah and Ullah used funds from the transactions to pay out large bonuses to themselves ($17.1 million for Shahenshah and Ullah) and nine other Afren employees. Shahenshah co-founded Afren in 2004 with Ethelbert Cooper.

Read more:

Afren dismisses top executives

Afren suspends top executives

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