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Article: Nigeria: Afren, Oriental Partner Addax Petroleum.
- Article from:
- TendersInfo
- Article date:
- August 29, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: pinto03
Afren Nigeria, a subsidiary of Afren Plc. and Oriental Energy Resources have partnered Addax Petroleum with the aim to develop Okwok Field, located in OML 67 offshore South East Nigeria . Under this arrangment, Addax, and Afren assume the role of Technical Advisor, and will acquire a twenty-eight per cent participating interest, thereby reducing Addax to a twelve per cent participating interest.
Oriental retains its sixty per cent participating interest and the Operatorship of the Okwok field. Afren has undertaken to fund the drilling of one exploration or appraisal well. In the event of a commercial declaration, Afren and Addax will ...