Well test results at Afren's Okoro East oil discovery, offshore Nigeria, have confirmed high quality oil in excellent reservoir sands, the group announced on Wednesday morning.
The FTSE 250 oil and gas production firm says that the results have shown a grade of 38 to 40 of API gravity and future horizontal production wells at the project will be capable of yielding 4,500-7,000 barrels of oil per day each.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"We have recorded an excellent set of test results at the Okoro East oil discovery.We will now work towards realising near-term production from Okoro East by utilising available well slots at the nearby Okoro main field wellhead platform," said Chief Executive Osman Shahenshah.
BC
-
How to pay in a chequeReceiving or writing a cheque has become much less common in recent years as instant bank transfers have grown in popularity. Amid widespread bank branch closures, we explain what to do if you get a cheque, and how you can pay one into your bank account.
-
Crypto assets of seven million UK investors at risk – how to keep yours safeCryptocurrency wallet rules make it hard to track down assets after someone has died, even if they leave a will saying who they would like to inherit them
