Afren Signs Agreement to Develop Nigerian Oil Field

UK-based oil and gas exploration and production company Afren will develop the Eremor oil field in Nigeria after signing a financing and technical services agreement with Nigerian Exploration and Production company Excel.

Located in shallow water off-shore Nigeria, the Eremor field is covered by 3D seismic data and is estimated to contain up to 30 million barrels of oil. Recoverable reserves are estimated at 10 million barrels from the D3.0 reservoir.

Phase-1 of the field development plan includes completion of the existing well and construction of a 7km oil evacuation line to the nearest flow station.

The field was initially discovered by Shell in 1978 (Eremor-1), and encountered five hydrocarbon bearing zones.

By staff writer