Afren plc (AIM: AFR) & partner Amni international announced this morning that the Field Development Program (“FDP”) for the Okoro Setu Project has been approved by the department of Petroleum Resources in Nigeria.
The permitted FDP features:
- The development of up to 6 gravel packed oil production wells in a single field supported by a minimum facilities well head platform.
- Transporting the oil through a pipeline to a leased Floating Production Storage and Offloading vessel (“FPSO”) 1 km south of the field.
- Total well fluids processing to stabilise the crude for storage and in the FPSO for regular off take by tanker. The coupled gas production will be used to assist well efficiency and as fuel for the vessels power generation.
Afren CEO Osman Shahenshah commented the “Field Development Plan approval marks another important milestone in achieving our target of 15,000 - 20,000 bopd by early 2008”.