Afren's tests confirm potential at Okoro East

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.

Afren wants to drill up to two production wells in the second half of the year, which will allow it - along with its project partner Amni - to finalise development options, with could see up to eight possible production wells under a full field development.

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"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