Afren (LON:AFR) has reported stable production of 21,000boepd in Q1 2010. Afren is an African focused independent oil and gas exploration and production company listed on the main market of the London Stock Exchange. Afren is currently producing from its assets offshore Nigeria and Côte d'Ivoire, with a significant appraisal and development project due onstream in 2010 from Nigeria.
Production at the Okoro field in Nigeria has continued to exceed pre-development expectations and during the period 18,500bopd were produced. Two infill targets have been identified at Okoro, and are expected to add incremental gross production rates of between 3,000 bopd to 5,000 bopd during the second half of the year.
Production in Côte d'Ivoire over the first quarter was impacted due to maintenance work involving the low pressure compressor on the Gulftide production platform and turbo expander at the Lion Gas Plant. The Company is planning to drill 19 wells this year. The Ebok development is on track with first oil expected in October 2010.
Management say that they are expecting to augment existing production by 35,000 bopd by the end of 2010.
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